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European stocks pull back as investors cool on U.S.-China trade progress

November 8, 2019

European stocks fell on Friday as investors cooled on prospects for global trade developments, with losses for Swiss luxury goods group Compagnie Financière Richemont SA CFR, -4.55% and French bank Crédit Agricole SA, along with major oil companies.

The Stoxx 600 SXXP, -0.16% slipped 0.4% to 404.74 after closing Thursday with a gain of 0.4% to 406.55, its highest level since May 2015. Buoyed by positive U.S.-China trade developments and record highs for Wall Street stocks, the Stoxx 600 is headed for around a 1.3% gain this week.

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