Market News: Europe Stocks Retreat After Rallying to Highest Since June – Bloomberg

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European stocks trimmed the longest weekly gaining streak since April 2021 as hotter-than-expected US jobs data fueled fears that the Federal Reserve will have to keep policy tighter for longer.
The Stoxx Europe 600 Index retreated 0.2% by the close in London, paring a decline of as much as 1% after the US data was published. In the week, the index added 0.6% for the seventh week of gains. Energy, utilities and rate-sensitive technology stocks led the decines as bond yields spiked, while the real estate and retail sectors outperformed. Credit Suisse Group AG jumped 9.3%, the most since May 2020, after its chairman said the bank had managed to essentially halt the outflow of assets.

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