European stocks closed in negative territory on Friday, paring earlier gains after the U.S. announced fresh sanctions on Iran.

The pan-European Stoxx 600 had dipped below the flatline by the closing bell, with most sectors and all major bourses in the red. The blue-chip stock index closed lower by 0.12%.

The FTSE 100 in London closed the session down by 0.14% to close at 7587.

Sentiment was dented shortly before the end of the European trading session when U.S. Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced new sanctions on Iran’s metal exports and eight senior Iranian officials.

Source: CNBC