European Stocks Decline Amid Geopolitical Tensions and Resource Weakness

European stock markets declined on August 14, weighed down by renewed geopolitical tensions and weakness in resource-related stocks.

The STOXX Europe 600 Index fell 0.21% to 657.86, marking its first negative week in five with a weekly loss of 0.36%. The FTSE 100 in London dropped 0.21% to 10,750.11, posting its largest weekly decline since July 10 at 1.38%.

Resource shares were particularly weak, with the FTSE 350 Mining Index plummeting 4.65% for the week, its steepest drop since June 26. Copper major Antofagasta slid 4.6% on the day due to falling copper prices and lower-than-expected production guidance.

However, some European software names rallied following reports of a potential acquisition by U.S. private equity firm Silver Lake. SAP rose 2.7%, while Temenos gained 1.8%. Danish shipping giant Maersk surged 8.8% after announcing its second full-year earnings guidance upgrade.