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European stocks extend losses on interest rate fears

Renminbi rises 0.1% against dollar after Chinese central bank steps up defence of currency
Global stocks followed Wall Street lower for much of this week as robust US economic data stamped out hopes that the Federal Reserve would start cutting rates soon

European stocks fell on Friday after hitting a five-week low the day before as investors grappled with the prospect of global interest rates staying higher for longer.

Europe’s region-wide Stoxx 600 fell 0.8 per cent, extending its losses into a fourth successive trading session, while France’s Cac 40 slipped 0.9 per cent and Germany’s Dax declined 0.8 per cent. 

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