European stocks drop again amid rising risks

European stocks declined for the fourth consecutive week due to escalating geopolitical tensions, particularly between the United States and Iran, which dampened risk appetite and negatively impacted corporate results. The Stoxx 600 index fell by 0.22% to reach 656.41 points, amid expectations of further interest rate hikes by the European Central Bank and the Federal Reserve in September, with an 84% probability of rate increases. Nonetheless, Goldman Sachs raised its 12-month target for the Stoxx 600 to 695 points, supported by strong economic growth and high corporate revenues. Sectors such as personal goods and food and beverages experienced declines between 2.3% and 4.3%, while the healthcare and basic resources sectors supported their performance. Shares of companies like Argentex and Exceleron rose following positive earnings results, whereas SG Group's stock dropped by 16.2% after appointing a new CEO.

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