European shares subdued as NatWest drop outweighs energy gains
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Oct 27 (Reuters) - European shares edged down on Friday as a drop in shares of British lender NatWest following a downbeat forecast overshadowed gains in energy stocks.
The pan-European STOXX 600 was down 0.1% by 0711 GMT and was on track to end 0.2% lower for the week.
NatWest was the top loser on the STOXX 600, down 16.1% on a profit outlook downgrade, with the lender pinched by tighter competition for savers' cash. Spirits maker Remy Cointreau slumped 10.4%, weighed by an annual forecast cut.
Cushioning the benchmark index, energy stocks climbed 1.2%, as oil prices rose by over $1 on concerns over a widening of the Israel-Hamas conflict.
Signify rose 10.0%, boosted by upbeat quarterly core earnings.
All eyes are on the U.S. personal consumption expenditure (PCE) reading later in the day, for further clues on interest rates, after signs of easing inflation on Thursday led to a pullback in U.S. Treasury yields. (Reporting by Amruta Khandekar; Editing by Varun H K)
