European stocks closed slightly lower on Friday, but still posted gains for both the week and the month. The STOXX 600 index ended at 649.19 points, down 0.12 percent, after hitting an all-time high during the session before pulling back late in the trading day. Strong corporate earnings helped offset pressure from Middle East tensions and concerns over artificial intelligence investment. Energy stocks rose 1.2 percent, the most among industry sectors, supported by higher oil prices. Meanwhile, Universal Music Group shares plunged 25.4 percent, their sharpest daily drop on record, following its first-half earnings report.
Universal Music Group N.V.Universal Music Group shares plunged 25.4% after its first-half earnings report.