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Europe Markets: European stocks limping toward second-worst weekly performance of the year

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European stocks on Friday were limping toward their second-worst weekly finish in the year.

The Stoxx Europe 600
SXXP,
-0.19%

fell 0.3% to 466.08.

The 2% weekly fall, as of midday, is the worst since the 2.4% retreat in the week ending Feb. 26.

The automotive sector paced Friday’s retreat, as Volkswagen
VOW3,
-1.84%

said it would cut production at its main plant in Wolfsburg due to a shortage of microchips, an issue hitting the entire industry.

Travel and leisure sector companies also struggled, with CTS Eventim
EVD,
-3.92%
,
Deutsche Lufthansa
LHA,
-3.72%

and Wizz Air Holdings
WIZZ,
-3.19%

losing ground.

Of the major regional indexes, the German DAX
DAX,
-0.43%

declined 0.5%, the French CAC 40
PX1,
-0.28%

declined 0.4%, and the U.K. FTSE 100
UKX,
-0.12%

declined 0.2%.

Marks & Spencer
MKS,
+10.62%

was the top-performing Stoxx 600 company, surging 11%, after saying full-year profit would come in above the top end of analyst forecasts.

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