European equity markets closed slightly lower on Friday, with the regional Stoxx 600 index down 0.13%. France’s CAC 40 dipped 0.26%, while the U.K.’s FTSE 100 and Germany’s DAX were both lower by roughly 0.2%.
In other news, Swiss luxury group Richemont reported a 1% drop in fourth-quarter sales, driven by a slowdown in Asia-Pacific. The Cartier owner said sales fell to 4.8 billion euros ($5.21 billion) in the three months to March, with sales growing 2% at constant exchange rates. For the full year, group sales rose 3% to an all-time high of 20.6 billion euros.
Additionally, BofA Securities has named “Asia’s most important stocks,” selected from the constituents of the MSCI Asia Pacific Index. These stocks have shown strong performance in the past and are crucial for investors to get right.
Overall, European markets are expected to open lower on Friday, with earnings due from Richemont and Engie, and inflation updates expected from the U.K. and euro zone.
Stay tuned for more updates on the financial markets and global economy.
