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European stocks close lower, European Stoxx 600 slips 0.4pc

European stocks close lower, European Stoxx 600 slips 0.4pc

ROME: European markets climbed off session lows to close lower as investors reacted to a fresh jobs report from the U.S., a policy meeting from OPEC and the new stimulus announced by the European Central Bank on Thursday.

The pan-European STOXX 600 ended slightly lower, down 0.4 percent, but rising off session lows as positive trade in the U.S. helped ease sentiment. On the week, the index was down 3.4 percent provisionally.

Investors tried to shake off reports surrounding OPEC that said it would maintain crude production and raise its output ceiling to 31.5 million barrels per day. However, conflicting reports later said that there had been no formal agreement on the output figure.

The news added to pressure on stocks already hit by disappointment over the European Central Bank’s (ECB) latest stimulus measures.