European markets remained in the grip of US monetary uncertainty. The FTSE Eurobloc 100 index came off 0.9 per cent at 1,071.38 for a net decline on the week of 5.5 per cent. The FTSE Eurotop 100 index shed 1.1 per cent at 2,928.50 and the FTSE Eurotop 300 1.2 per cent at 1,279.75.
Stockholm was one of the few markets to remain in positive territory, supported almost solely by an 8.7 per cent leap in Ericsson. While the world's third-largest manufacturer of mobile telephones turned in first-half profits that were sharply below expectations, it did manage to convince the market of its determination to have the business back on track by the end of the year.
Analysts noted the contrast with Nokia, which fell sharply on Thursday after it announced a 61 per cent leap in second-quarter profits. The Finnish group's results were in line with expectations but investors were disappointed that it had not delivered a result that far exceeded expectations.
Ericsson finished SKr21 higher at SKr256.50 as the general index rose 27.03 to 3,727.14.
In Helsinki, Nokia, down 7 per cent on Thursday, lost another 2.65 to 83 as the Hex index tumbled 155.73 to 7,627.29.
Frankfurt fell for a third day running with the Xetra Dax index off 30.28 at 5,310.63 for a net decline on the week of 5.6 per cent. Allianz came off steeply, falling €9.33 to €258.10 following a downgrade from "neutral" to "underperform" at Morgan Stanley Dean Witter. Munich Re lost €4.15 at €184.25. Siemens pushed higher as investors fully digested Thursday's interim figures. The stock jumped €2.90 at €80.60. Retailer Metro gained €1.60 at €53.10 ahead as Germany's summer sales got under way.
Motor groups were active ahead of next week's run of results, which kicks off with interim figures on Tuesday from Volkswagen. VW added five cents at €56.75, but DaimlerChrysler fell €1.89 at €80.31.
Paris ended the week down a net 4.6 per cent with the CAC-40 index off 49.12 at 4,440.45 on the day.
Saint Gobain, up almost 7 per cent on Thursday, ran into profit-taking in the after the glass group's interim statement. It came off €5.50 at €165.
Investors in pay-TV group Canal Plus also pocketed profits. The shares slipped €2.75 at €66. Techs leader STMicroelectronics was the heaviest faller, tumbling €5.05 or 7.6 per cent to €61.05. Domestic appliance group Moulinex came off 43 cents at €9.66 on disappointing first-half sales figures. Computer group Bull crashed lower following a profits warning, sliding 75 cents or 9.3 per cent at €7.34.
