Global Market: European shares edge lower as telecom stocks weigh

European shares edged lower on Friday, with telecommunications stocks leading declines, although gains in technology shares helped limit losses and kept the benchmark on track for a weekly advance, Reuters reported.

The pan-European STOXX 600 index fell 0.2% to 641.57 points by 0717 GMT, after gaining more than 1% over the previous two sessions. The index remained near one-week highs.

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According to Reuters, the STOXX 600 was heading for its first weekly gain in three weeks, following a week packed with interest rate decisions from major central banks, including the U.S. Federal Reserve and the Bank of England.

Telecommunications stocks fell 1.8% in early trading. Deutsche Telekom declined 3.1%, while Airtel Africa dropped 4.8%.

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The food and beverage sector also came under pressure, losing 1%. Nestle fell 1.2% after Russia seized control of the Swiss food company's local assets.

Energy stocks declined 0.5%, tracking a third consecutive session of lower oil prices. Reuters reported that oil remained above $100 a barrel, although prices were pressured by expectations that disruptions to Saudi supplies would remain limited.

Technology stocks provided some support to the broader market, rising 0.9%. Chip-related companies Aixtron and Infineon Technologies were among the leading gainers.

Market sentiment this week has been shaped by monetary policy decisions across major economies, while movements in energy prices and sector-specific developments continued to influence European equities.

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