America News Agency

The Stoxx 600 was down 0.3 percent by 11:00 a.m. in London, paring earlier gains. All major bourses and most sectors traded in the red, with autos losing 1 percent while tech stocks added 0.6 percent.

According to fresh data from the Bundesbank, Germany’s economy grew slightly more slowly than expected this year, while inflation is likely to tick up slightly. Europe’s biggest economy is now set to expand by 0.3 percent, below the 0.4 percent previously estimated.

The pan-European benchmark ended Thursday at 524.75 points — just above its previous record close on May 15, according to LSEG data.

It followed the European Central Bank’s decision to cut interest rates for the first time since 2019 in a widely expected move, despite nagging inflationary concerns. It takes the key bank rate in the 20-nation eurozone to 3.75 percent, down from a record 4 percent.

Elsewhere, Asia-Pacific stocks were mixed on Friday as investors considered Chinese economic data and pay numbers from Japan.