European stock markets fell on Friday as new data fed worries about the eurozone outlook and stock sales dampened prices.
In Paris, the Cac 40 fell 0.47% at 4,488.69. In Frankfurt the Dax dropped 0.44% to 10,626.97 and in London the FTSE 100 lost 0.03% to 6,909.43.
Oil prices fell. West Texas Intermediate was recently down 2.85% at $45.00, while Brent Crude was down 2.56% at $46.43 a barrel.
Preliminary purchasing managers' indices from IHS Markit for September suggested the eurozone economy lost steam towards the end of the third quarter. The euro-zone composite purchasing managers' index fell more than expected to a 20-month low of 52.6 from 52.9, worse than the consensus 52.8 forecast. The services sector index unexpectedly slipped to a 21-month low but the manufacturing PMI made a surprise jump to a three-month high of 52.6 from 51.7 amid the steepest gain in new export orders in two and a half years.
The eurozone figures followed disappointing PMIs from Germany, and French PMIs showing that France's manufacturing sector is still stuttering. Earlier in the day French statistics agency Insee said the French economy contracted by 0.1% in the second quarter instead of stagnating, as previously expected.
Pharmaceuticals company Indivior (INVVY) was recently down 8.28% in London on news of a class action suit from U.S. states. They allege it maneuvered to keep generic versions of its Suboxone heroin substitute off the market.
In Paris, ArcelorMittal (MT) - Get Report extended its gains. It was the top gainer on the Cac 40, rising 2.5%, after India's steel minister Chaudhary Birendra Singh said the proposed $1 billion joint venture between the steel giant and India's largest metal producer Steel Authority of India will be finalized by December.
Meanwhile, French bank Societe Generale (SCGLY) was the third-worst Cac 40 performer, losing 1.5% after the French appeals court reduced the amount of damages to be paid by ex-employer and rogue trader Jerome Kerviel to €1 million ($1.1 million) from €4.9 billion. Kerviel has appealed for a retrial, saying his bosses knew about his activities.
In Frankfurt, Deutsche Bank (DB) - Get Report was the worst performer, falling 1.98%, on worries over how it will deal with the recent $14 billion civil charges levied by the Justice Department. The German bank last week said it has "no intent" to pay "anywhere near" the propose figure for its part in issuing, distributing and securitizing residential mortgage-backed securities between 2005 and 2007.
In Madrid CaixaBank fell 3.8% as it sold treasury stock to fund its takeover of Portugal's BPI.
Russian gold producer Polymetal (AUCOY) fell 7.4% in London as two investors sold a 6% stake.
And in Milan luxury ski jacket maker Benxi Steel Corp. (MONRF) fell 2.2% after French investor Eurazeo sold a 6% stake.
U.K. retailer Sports Direct International (SDISY) rose 5.53% after CEO Dave Forsey quit, to be replaced by controversial founder and deputy chairman Mike Ashley. Ashley has had a difficult relationship with institutional investors and analysts and the company has recently sustained heavy criticism about its labor practices. It is attempting to address these and this week yielded to pressure to have an independent firm review its practices rather than the existing appointee, RPC, which had previously worked with the retailer extensively. It's also appointing a worker's representative to its board.
Bond International Software rose 4.9% to 113.8 pence on news Constellation, of Canada, had sweetened its bid to 115.5 pence and secured the board's backing.
Upscale notebook maker Moleskine (MOSKY) jumped nearly 16% in Milan on news that Belgian car distributor D'Iteren (SIETY) plans a buyout after arranging to acquire a 41% stake from private equity backers. D'Iteren was down 5.8%.