European stocks closed mixed on Friday as ties between the U.S. and China came under further strain, potentially threatening the “Phase One” trade deal signed earlier this year.
The pan-European Stoxx 600 provisionally closed a touch above the flatline Friday, with food and beverages falling 0.6% to lead losses while travel and leisure stocks jumped 0.8%.
Concerns over the new Hong Kong security laws hit shares of banks and financial services companies with a significant Asian presence on Friday. HSBC saw its stock fall almost 5%, while Standard Chartered fell 2% and Prudential slid almost 9% to the bottom of the Stoxx 600.
At the top of the European benchmark, Swedish real estate firm SBB jump 9%. The company announced Wednesday that its CEO, Ilija Batljan, was dismissed from a criminal investigation into insider dealing and that the probe has been withdrawn.
