Global Market: European stocks edge lower as Kering slumps, oil prices rise

Gucci's performance has remained a key concern for investors amid subdued demand in the global luxury goods market.In contrast, shares of Swiss cement maker Holcim rose 5.2% after the company raised its full-year earnings forecast, following better-than-expected quarterly sales and profits.Live EventsThe report stated that optimism surrounding a generally strong European earnings season had been overshadowed by concerns over social unrest and political uncertainty in France.

French government bond yields climbed to a 24-year high earlier in the week, reflecting growing concerns about the country's fiscal outlook.A sell-off in artificial intelligence-linked stocks has also weighed on investor sentiment, as concerns about the sustainability of AI-related investments and their implications for global economic growth prompted investors to reassess risk exposure.Meanwhile, oil prices rose more than 1% on Friday, with Brent crude trading near multi-month highs.

Higher energy prices have added to concerns about inflation and the potential for renewed pressure on businesses and consumers.According to Reuters, the combination of political uncertainty, pressure on technology stocks and rising energy prices has tempered the positive impact of corporate earnings on European markets.Investors will continue to monitor company results, developments in France and movements in energy prices for further clues on the direction of European equities.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)(You can now subscribe to our ETMarkets WhatsApp channel)