European shares log weekly losses on Iran war-linked inflation woesdrop

Synopsis European markets experienced a significant downturn, with the STOXX 600 index sliding due to escalating energy inflation fears stemming from the U.S.-Iran tensions. Rising costs are impacting consumer and producer prices, prompting expectations of interest rate hikes. Economically sensitive sectors and defence stocks bore the brunt of the sell-off, despite some positive corporate news. Europe’s STOXX 600slid and logged weekly losses on Friday as concerns over energy-induced inflation pressures due to the U.S.-Iran standoff rattled global markets. The pan-European benchmark closed down 1.5% at 606.92 points, snapping two straight days of gains. Germany’s DAX declined the most among regional…