European Shares Flat To Lower Ahead Of US Inflation Report

(RTTNews) - European stocks were subdued on Friday as earnings proved to be a mixed bag and investors braced for the release of delayed U.S. inflation figures for September.

Meanwhile, Eurozone business activity growth hit a 17-month high in October, with Composite PMI rising to 52.2 from 51.2, driven by services.

The U.K. private sector grew faster than expected in the month, with S&P Global's Composite PMI rising to 51.1 from 50.1 the month before.

Elsewhere, data from the Office for National Statistics showed that U.K. retail sales advanced 0.5 percent in September from the previous month, confounding expectations for a decline of 0.2 percent.

The increase marked the fourth consecutive rise and took the total volume to the highest level since July 2022.

Separate survey results from market research group GfK showed that a measure of British consumer sentiment improved to -17 in October from -19 in September. Four measures were up and one was down from the previous month.

The pan-European Stoxx 600 slid 0.1 percent to 573.69 after rising 0.4 percent on Thursday.

The German DAX eased 0.1 percent, France's CAC 40 dipped half a percent and the U.K.'s FTSE 100 was marginally lower.

GSK fell nearly 2 percent after its anti-BCMA antibody drug conjugate Blenrep received FDA approval to return to the U.S. market, but with significant restrictions.

NatWest rose 2.3 percent. The lender upgraded its guidance after Q3 profit jumped 35 percent compared to the same period last year.

Italian energy group Eni rallied 2.4 percent. Citing improved outlook for cashflows, the company said it would increase its share buyback by 20 percent for the year.

French drug major Sanofi gained nearly 2 percent after its Q3 results beat forecasts. Aerospace group Safran declined 2 percent. The company raised its full year forecasts but warned of a residual hit from tariffs on its bottom line.

Signify, the world's biggest lights maker, slumped 5.4 percent after it reported an 8.4 percent drop in its third-quarter sales.

Swedish defense and aerospace group Saab soared 7 percent after lifting its full-year sales guidance.

Norwegian aluminum and renewable energy firm Norsk Hydro plunged 4 percent after Q3 adjusted earnings declined from last year.