European shares slipped on Friday after their Asian peers were hit by a further escalation in U.
-China tensions, but an upbeat earnings season and hopes of more stimulus kept most regional indexes on course for weekly gains.
The pan-European STOXX 600 index <.
STOXX> was down 0.
2% by 0717 GMT, with banks , automakers <.
SXAP> and oil and gas firms <.
SXEP> leading declines.
President Donald Trump on Thursday moved to ban U.
transactions with popular Chinese apps, Tencent's WeChat and ByteDance's Tiktok, knocking 1% off Asia Pacific shares.
European markets were relatively more resilient, but Amsterdam-listed Prosus , with its biggest investment in Tencent <0700.
HK>, fell 5.
British aero-engineer Rolls-Royce Holdings dropped 2.
3% after a media report that activist shareholder ValueAct Capital Management sold its stake in the company.
Deutsche Telekom , which owns 43% of T-Mobile , rose 2.
1% after the U.
firm added more monthly phone subscribers than expected in the second quarter.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur).