European stock markets dropped on Friday, retreating from multiyear highs reached the prior day when investors celebrated the U.S. Federal Reserve’s decision to keep its bond purchases intact.
The Stoxx Europe 600 index fell 0.1% to 314.62 after closing at the highest level since June 2008 on Thursday.
Germany’s DAX 30 index erased 0.2% on Friday, pulling back from a record closing high.
France’s CAC 40 index fell 0.2% and the U.K.’s FTSE 100 index gave up 0.2%.
Shares of Adidas AG gave up 3.9% after the sportswear maker lowered its full-year guidance due to the depreciation of several currencies versus the euro.
Shares of RWE AG lost 2.1% after the German utility firm said late Thursday that deteriorated earnings prospects have forced it to cut its dividend for this year and beyond.
Investors in Europe were also wary of placing any big positions ahead of the German federal election.
Banks weighed on the indexes, with shares of Commerzbank AG down 0.8% in Frankfurt, Société Générale SA off 0.7% in Paris and heavyweight HSBC Holdings PLC 0.5% lower in London.
Most mining firms moved lower on Friday as metal prices retreated. Shares of Randgold Resources Ltd. gave up 3.1%, Fresnillo PLC erased 2.9%, Vedanta Resources PLC dropped 2.5% and Anglo American PLC fell 1.5%.
Banks were also lower, with shares of Royal Bank of Scotland Group PLC down 0.9%, Standard Chartered PLC 0.8% lower and Barclays PLC off 0.6%.
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