* STOXX hits lowest in 11 months, DAX above early March low
* Cyclicals lead sectoral losers, defensives outperform
* Precious metal miners lifted by safe haven demand(For a live blog on European stocks, type LIVE/ in an Eikonnews window)
By Danilo Masoni
All sectors were trading in negative territory, sendingpan-regional STOXX 600 benchmark index falling for asecond day, down 1.4 percent to its lowest level since February2017.
All eyes were on the response from
Although risks that the tariffs could trigger a full-blowntrade war, some investors said they still did not expect that tohappen, highlighting that the retaliation measures announced by
Caution, however, pushed investors into defensive stockslike utilities and telecoms, which declined byless than 1 percent but outperformed the broader market, as theyare seen as less exposed to a deterioration in global trade.
Euro zone indexes including the export-sensitive DAXalso fell more 1.8 percent but remained above earlyMarch lows, while the FTSE dropped 1.1 percent to fresh15-month lows reached on the back of a strengthening pound.
"Our central scenario remains one in which retaliation willbe contained and will leave little impact on growth, but therisk of it happening alone is enough for us to maintain apreference for defensive assets," said UniCredit economists ledby Chiara Silvestre in a note.
Enel fell 0.2 percent after
Among the few gainers on Friday were shares in metal minersFresnillo, Randgold and Polymetal ,all up between 0.5 and 1.5 percent, as the gold price rose onthe back of growing demand for safe haven assets.
Still on the tariff front, the previously announced
"In theory it would be a soothing news but in reality itrisks making the confrontation between the
Among the companies, exposed to
Elsewhere in corporate arena, Indivior plunged 4.4percent following an
Among the few gainers, GSK rose 2.9 percent after itpulled out of the bidding war for Pfizer's consumer healthbusiness <PFE.N,> following in the footsteps of ReckittBenckiser earlier this week.(Reporting by Danilo MasoniEditing by Alison Williams)