European Shares Subdued On Disappointing Data

(RTTNews) - European shares were subdued on Friday as investors reacted to a slew of downbeat regional data and looked ahead to the release of key U.S. non-farm payrolls report for direction.

Trade tensions persist despite Chinese President Xi Jinping and U.S. President Donald Trump holding a much-anticipated call on Thursday to resolve trade issues.

Meanwhile, media reports suggest that Trump and billionaire Elon Musk plan a phone call to ease tensions after public disputes over a U.S. budget bill.

In economic releases, German industrial production declined more than expected in April as the temporary boost from the frontloading of orders ahead of the U.S. tariff hikes faded, data from Destatis revealed.

Industrial output declined 1.4 percent month-on-month in April, in contrast to the 2.3 percent increase in March. This was the biggest fall since December, when production posted a similar decline.

Separate data revealed that Germany's trade surplus declined in April as exports to the U.S. logged a double-digit decline amid a notable growth in imports.

German exports fell 1.7 percent month-on-month in April, reversing an increase of 1.2 percent in March. The pace of decline was worse than the expected fall of 0.5 percent.

By contrast, imports grew 3.9 percent compared to a 1.4 percent drop in March. As a result, the trade surplus decreased to EUR 14.6 billion from EUR 21.3 billion in the previous month.

Elsewhere, U.K. house prices declined unexpectedly in May after the stamp duty holiday ended in March, data from the mortgage lender Halifax revealed.

House prices dropped 0.4 percent month-on-month in May, in contrast to the 0.3 percent increase in April. Prices were expected to grow 0.4 percent.

On a yearly basis, house price inflation softened to 2.5 percent in May from 3.2 percent in the previous month.

The pan European STOXX 600 was marginally lower at 551.39 after rising 0.2 percent in the previous session.

The German DAX slipped 0.3 percent, France's CAC 40 eased 0.2 percent and the U.K.'s FTSE 100 was little changed.

HSBC Holdings was moving higher after announcing that Sir Mark Tucker will step down as Chairman of the Board of Directors and member of the Board on 30 September 2025.

Sportswear retailer Adidas was slightly lower after U.S. peer Lululemon Athletica slashed its annual profit forecast.

Software company Dassault Systemes fell about 1 percent after delaying its earnings target timeline by one year.