European equity markets drifted modestly lower on Friday, with indices on course to end a five-week run of gains as investors remained cautious amid renewed geopolitical and trade-related tensions tied to Greenland.
On the data front, preliminary survey figures from S&P Global indicated that private-sector activity across the euro area continued to expand at a steady pace in January. Manufacturing output returned to growth territory, while momentum in the services sector eased to its weakest level in four months.
The HCOB flash composite output index held steady at 51.5 in January, matching December’s reading and falling just short of expectations for a slight uptick to 51.6.
The pan-European Stoxx 600 index slipped 0.2%, a modest pullback following a strong 1% rally in the previous session. France’s CAC 40 declined 0.3%, while Germany’s DAX hovered around flat territory. In contrast, the UK’s FTSE 100 outperformed slightly, rising 0.1%.
In corporate developments, shares of French banking group BNP Paribas (EU:BNP) moved lower following reports that the lender plans to cut roughly 1,200 jobs by the end of 2027.
UK defense firm Babcock International (LSE:BAB) also traded down after announcing changes to its chief executive leadership.
Germany’s BASF (TG:BAS) came under pressure after the chemicals group cautioned that earnings are likely to weaken.
On the upside, Swiss composite materials specialist Gurit Holding (LSE:0QQR) surged after reporting 2025 sales that exceeded its own guidance.
Swedish telecom equipment maker Ericsson (NASDAQ:ERIC) was another standout performer, with shares jumping after the company topped quarterly earnings forecasts and unveiled a SEK 15 billion share buyback program.
Leave a Reply