European equity markets traded mostly lower on Friday as investors weighed fresh geopolitical developments alongside a mixed batch of economic data and corporate news.
Concerns surrounding Greenland resurfaced after media reports indicated that European troops have begun arriving in the territory amid what has been described as a credible U.S. military threat.
The deployment, involving forces from several European nations and other North Atlantic Treaty Organization allies, was announced after high-level talks between Danish and U.S. officials ended without agreement on Thursday.
On the economic front, data released earlier in the day showed that German harmonized inflation slowed toward the 2% target at the end of last year.
According to final figures from Destatis, the harmonized index of consumer prices rose 2.0% year over year in December, easing from a 2.6% increase in November. The statistical office confirmed the December reading that had been published on January 6.
Similarly, headline consumer price inflation moderated to 1.8% from 2.3% in each of the prior two months. The latest figure marked the slowest pace since September 2024 and was in line with the preliminary estimate.
In market performance, France’s CAC 40 was down 0.6%, Germany’s DAX slipped 0.3%, and the U.K.’s FTSE 100 eased 0.1%.
Shares of gold producer Fresnillo (LSE:FRES) declined as easing geopolitical tensions pressured gold prices.
Banking heavyweight HSBC (LSE:HSBA) also traded lower after announcing a strategic review of its insurance business in Singapore.
In contrast, shares of Kloeckner & Co. (TG:KCO) surged after Worthington Steel (NYSE:WS) said it would acquire the German steel processor in a deal valued at $2.4 billion.
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