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Sunday, March 23, 2025  
22 Ramadan 1446  

Travel stocks drag European shares lower

Country’s lower house of Parliament aims at reviving growth in Europe’s largest economy
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 19, 2025. REUTERS
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 19, 2025. REUTERS

European shares fell on Friday, led by travel stocks after a fire at Heathrow Airport, while investors continue to assess the effects of brewing trade tensions.

The pan-European STOXX 600 was down 0.5% as of 0815 GMT, with losses led by Europe’s travel and leisure index , down 2.1%.

Airlines companies came under pressure after a huge fire closed Britain’s Heathrow Airport for the day. Shares of IAG fell 3.1%, Lufthansa slipped 1.2%, Air France KLM declined 2% and easyJet shed 1.3%.

The benchmark index was up 0.7% for the week so far, primarily boosted by Germany. The country’s lower house of Parliament voted on a spending splurge aimed at reviving growth in Europe’s largest economy and scaling its military spending.

Its upper house is set to vote on Friday.

Global economic uncertainties weighed on the market for the week, especially after the Fed on Wednesday lowered its economic growth outlook for this year and raised inflation projections due to higher uncertainty from US President Donald Trump’s trade tariffs.

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European shares open lower on Airbus, tech drag

Asian stocks fall as upbeat Chinese data fails to impress

UK’s Heathrow Airport closed due to ‘significant’ power outage after fire

Shares of Douglas dropped 18.3% after the German perfume and cosmetics retailer lowered its full-year outlook.

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