European shares gave up early gains to close lower on Friday as a drop in shares of beauty giant L’Oreal weighed, while the benchmark index clocked weekly, monthly and quarterly declines on French political uncertainties.The Irish index of shares fell half a per cent on Friday, closing the week at 9,318. Banking shares were mixed, with Permanent TSB shedding almost 3 per cent, and AIB off 0.24 per cent.
High street retailers JD Sports, Marks & Spencer and Burberry were among the biggest fallers of the day. JD Sports fell more than 5.4 per cent after US peer Nike forecast a surprise drop in 2025 revenue. The personal and household goods sector shed 1 per cent, dragged by a 3 per cent fall in French beauty giant L’Oreal after its chief executive gave a lower market growth forecast during a Fireside Chat hosted by JP Morgan.
Among stocks, Nokia added 1.5 per cent after the Finnish firm agreed to buy Infinera in a deal with an enterprise value of $2.3 billion.