European shares closed lower on friday but still recorded gains for the month: The pan-European STOXX 600 index slipped 0.1 percent to 649.19 points after touching a record high earlier in the session before surrendering its gains.
According to Emirates News Agency, shares of Universal Music Group plunged 25.4 percent, marking the company's largest single-day decline on record, following the release of its first-half financial results. The media sector index fell 5.5 percent, while technology stocks rose 0.3 percent, although they pared some of their earlier gains.