STOXX 600 closes down 0.57% at 634.10, weekly loss about 1.6%

The weekly damage is concentrated rather than broad: the euro-area STOXX 50's steeper decline relative to the wider STOXX 600 points to large-cap pressure, and the luxury complex is doing most of the work, with Kering's double-digit drop far outpacing the index. That single-sector concentration matters because luxury has been a bellwether for euro-area earnings and for demand read-throughs beyond Europe. The offsetting L'Oréal gain suggests the selling is selective, not a blanket risk-off move. Whether luxury weakness stays idiosyncratic or spreads into the broader index is the open question worth watching.