EU STOCKS extend selloff

European markets fell sharply Friday, driving toward weekly losses.

The Stoxx Europe 600 lost 1% to 330.13 and was set for 2.6% drop on a weekly basis, the first such decline since the week ended March 14.

U.K.’s FTSE 100 fell 0.7%. Wm. Morrison Supermarkets PLC gained 1.2% and J Sainsbury PLC picked up 0.5%.

Germany’s DAX 30 dropped 1.3% and France’s CAC 40 fell 0.9%.

Among European tech names, shares of ARM Holdings PLC slumped by 3.9%, Infineon Technologies AG was down 3% and Logitech International SA gave up 2.7%.

Orkla ASA down 5.5%, Thales SA shares slid 4.5% after J.P. Morgan cut its rating on the French defense-electronics group to neutral from overweight.

Givaudan SA declined 1.2%. Comparable sales at its flavor division rose 5.8% in the first quarter, the world’s biggest maker of flavoring products said. That missed the 6.5% increase estimated by analysts. 

Bauer AG lost 1.2% after posting a 2013 net loss of 19.4 million euros, compared with a profit of 25.8 million euros a year earlier. 

Salzgitter advanced 2.2% after Citigroup upgraded the shares to buy from neutral.

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