European stock markets struggled for direction Friday as the negative global trading sentiment spurred by tapering fears continued to weigh on the markets. Most major indexes also headed for weekly losses after solid U.S. jobs data last week and a budget deal in Washington fueled speculations the Federal Reserve could reduce its asset purchases next week.
The Stoxx Europe 600 index was slightly higher at 310.33, but on track for a 2% weekly loss.
In Europe, the U.K.’s FTSE 100 index was flat, while France’s CAC 40 index rose 0.2%. Germany’s DAX 30 index added 0.2%.
ECB policy makers Praet and Coeure are scheduled to speak separately in Antwerp and Paris today.
Praet told on Nov. 14 that the bank may adopt negative rates as it battles slow inflation. Coeure said this month the ECB would consider offering more long-term loans to banks only when they are in a position to lend to companies and households.
Shares of Peugeot SA slid 9.8% after General Motors Co. late Thursday said it is selling its entire 7% stake in the French car maker. The decline built on a 7.6% drop from Thursday, when Peugeot said it would take a 1.1 billion euro ($1.5 billion) impairment charge.
RSA Insurance Group PLC slumped 16% after Chief Executive Simon Lee resigned and the company warned that its troubled Irish unit will hit 2013 earnings.
On a more upbeat note, shares of ARM Holdings PLC rose 1.9%.
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