European stocks head for weekly drop

London - European exporters extended declines, sending benchmark stock indexes toward their first weekly drop since June, as weaker oil prices and a stronger euro undercut sentiment among investors who increasingly expect word later this year that monetary stimulus will be reigned in.

The Stoxx Europe 600 Index fell 0.4% at 13:43, with carmakers as the biggest losers. Banks and construction companies also declined. Friday is last trading day before some equity-index options expire. Options expiration can add to market volatility.

The euro’s appreciation versus the dollar is weighing on the region’s equities after European Central Bank President Mario Draghi said on Thursday that officials will reassess stimulus in autumn.

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