European stock markets closed mostly lower in Friday trading with the Stoxx 600 down 0.4%, Germany's DAX shedding 0.9%, the UK's FTSE 100 up 0.1%, France's CAC 40 fractionally lower, and the Swiss Market Index up 0.4%.
In economic news, France's consumer price index in October is expected to rise 3.4% on year, while Q3 real gross domestic product contracted by 0.1% on quarter and on year, said the country's statistical office Insee.
Separately, the seasonally adjusted Q3 Eurozone gross domestic product rose 0.4% on quarter, while the broader EU's economy expanded by 0.5%, Eurostat reported. On the year, GDP rose by 1.3% in the Eurozone and by 1.5% in the EU.
In regulatory news, Meta, TikTok and X lost a legal challenge against UK regulator Ofcom over information requests under the UK's Online Safety Act, according to the court document on Friday. The UK High Court upheld Ofcom's requests for content moderation data, it added. The Online Safety Act 2023 requires internet services to manage risks from illegal and harmful content, particularly material affecting children, the document said.
In corporate news, BP CEO Meg O'Neill categorically denied conversations about breaking up the company, reaffirming the importance of its integrated oil and gas business during the Q3 earnings call Friday. O'Neill said discussions with the board about BP's strategic direction reinforced the importance of an integrated model, with upstream, downstream and trading operations generating value together. She said the combined business generates more value than its individual components, with strong results across all three segments in the quarter demonstrating the benefits of integration. BP reported Q3 underlying replacement cost profit Friday of $3.26 per diluted American depositary share, up from $0.85 a year earlier. BP shares rose 0.5% in London.
TotalEnergies said Friday it will cut diesel prices to 2.15 euros ($2.41) per liter, at 705 of its access service-stations in France, starting Saturday. The access stations represent about 60% of company fuel sales, TotalEnergies said. Separately, TotalEnergies has signed a farm-out deal to sell a 40% participating stake in the OPL257 block offshore Nigeria to South Atlantic Petroleum, TotalEnergies said Friday. Following the deal's completion, TotalEnergies will own a 50% operated interest in the block, while Conoil will hold the remaining 10%. TotalEnergies shares were up 1% in Paris.
Eni started gas production at the Maha field in Indonesia's offshore Kutei Basin, 21 months after its final investment decision, the company said Friday. The field has a capacity of 250 million standard cubic feet per day, with gas processed at the Jangkrik Floating Production Unit and supplied to domestic markets and the Bontang plant for LNG production, the company said. Eni shares rose 0.9% in Milan.
Sanofi reported fiscal Q3 business net income Friday of 3.55 euros ($3.97) per share, up from 2.91 euros a year earlier. Analysts polled by FactSet expected 2.74 euros. Revenue was 14.44 billion euros, up from 12.43 billion euros a year earlier. Analysts expected 13.60 billion euros. The drugmaker upgraded its 2026 outlook and now expects business EPS and sales to grow by mid-teens and low-teens percentages, respectively. Sanofi shares rose 4.7% in Paris.
AstraZeneca reported fiscal Q3 core net income Friday of $2.79 per diluted share, up 17% from a year earlier. Analysts polled by FactSet expected $2.60. Revenue was $16.21 billion, up from $15.19 billion a year earlier. Analysts expected $16.02 billion. The company reaffirmed its 2026 outlook for core EPS and revenue to grow by low double-digit and mid-to-high single-digit percentages, respectively. AstraZeneca shares jumped 7% in London.
NatWest reported Q3 earnings Friday of 0.191 British pounds ($0.26) per diluted share, down from 0.196 pounds a year earlier. Four analysts surveyed by FactSet expected 0.192 pounds. NatWest shares fell past 8% in London.
Rio Tinto said Friday that seismic activity occurred along a rock fault zone at its Oyu Tolgoi mine in Mongolia on Thursday, resulting in no fatalities, but injuring three employees. Underground operations are paused at the facility, pending a completion of a safety review, Rio Tinto said. Rio shares were down 1.8% in London.
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