By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European stocks sagged Friday, with
investors watching for any developments on a possible cease-fire
agreement for eastern Ukraine, but the region's equity benchmark
was on track for a fourth straight week of advances.
Ukrainian forces and pro-Russia separatists were fighting near
the port city of Mariupol in southeastern Ukraine on Friday,
according to news reports. The clashes took place as
representatives from Ukraine, for pro-Russia rebels and other
leaders were expected to meet in Minsk to discuss a plan to halt
the fighting.
Meanwhile, U.S. and European leaders at a North Atlantic Treaty
Organization summit in Wales discussed imposing toughen sanctions
on Russia over the Ukraine crisis, and there were signs that some
countries could decide to send weapons to Kiev.
Markets: As investors awaited any firm details about the peace
talks or more sanctions, the Stoxx Europe 600 fell 0.6% to 346.81.
Also on the horizon was an update on labor-market conditions in the
U.S., the world's largest economy, with August jobs data due at
1:30 p.m. London time, or 8:30 a.m. Eastern.
Advancers on the benchmark included Julius Baer , up by 1.5%
after the Zurich-based bank was upgraded to a buy rating from
neutral at UBS, citing expected multiple expansion.
Decliners included metals producer Fresnillo and Coca-Cola HBC ,
down 3.9% and 3.8%.
The Stoxx Europe 600 was in line for a 1.4% weekly decline,
coming largely from Thursday's jump of 1.1% after the European
Central Bank announced further monetary policy easing in an effort
to boost low inflation levels.
The euro (EURUSD) bought $1.2960, slighting recovering from
$1.2949 recorded in New York late Thursday, when the weakness was
triggered by the ECB's cut in interest rates and plans to buy
asset-backed securities.
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