European equities sag

European equities sag

On Friday, European financial stocks dived after a delayed vote on tax reform in America deflated a soar in the sector, thus forcing regional benchmarks to start December with a descend.  

Euro zone stocks STOXXE headed south 0.6%, while Britain's FTSE that has been affected by a strong pound this week, edged down 0.1%.

Financials turned to be the biggest weight after the U.S. Senate postponed a vote on a tax reform bill, which traders consider to be beneficial for financial institutions.

Lloyds, BNP Paribas and Barclays brought the index down.

UK pharma company Indivior rallied 11.7% right after its opioid addiction medicine was officially approved by the US Food and Drug Administration.

Meanwhile, struggling French telecom company Altice, whose equities dived 59% in November after gloomy results, inched up 4.6% after the company told it would sell data center as well as Swiss telecoms businesses for the purpose of reducing its 50 billion euro debt pile.

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