London, European stocks closed lower today, with real-estate stocks leading the decline, as investors grew concerned about the prospect of interest rates remaining high for a longer period.
The real-estate sector fell 3.2 percent to its lowest level in more than two months, with German shares of LEG Immobilien falling 11.4 percent after the company suspended dividends.
The pan-European STOXX 600 index closed down 0.2 percent, after recouping some of its losses earlier in the trading session.
All eyes will be on the European Central Bank (ECB) next week, as it is expected to raise its key lending rate by a half-percentage point amid many policymakers calling for further rate increases at subsequent meetings.
Source: Saudi Press Agency