European markets ended marginally higher Friday following a choppy day of trading as a sharp fall in oil prices dragged on otherwise bullish sentiments, while volumes remained weak due to a half-day session on Wall Street following the Thanksgiving holiday.
The pan-European Stoxx 600 closed at 342.45, up a slim 0.18%, climbing to a one-month high after posting its third consecutive weekly gain despite falls in oil industry service providers.
Oil and gas contractor Tecnhip (TKPPY) was down 3.18%, Norway-listed Subsea 7 (SUBCY) was down 2.9% and Italy's Saipem (SAPMY) was down 2.6%. All fell after Brent crude oil tumbled 2.5% to $47.78 on renewed fears that next week's meeting of the Organization of the Petroleum Exporting Countries could break up without a production cut agreement.
Saudi Arabia jangled the nerves of oil traders on Friday when it said it will not attend a meeting between OPEC members and non-OPEC members, reportedly describing the meeting as pointless until OPEC reaches its own agreement.
In London, the FTSE 100 closed up 0.17% at 6840.75, only just hanging on to more significant gains earlier in the day in the wake of an Office of National Statistics report that showed the economy likely grew by 0.5% in the third quarter.
Frankfurt's DAX spent much of the day in the red but rallied at the last to close at 10699.27, up 0.09%. Paris's CAC40 closed at 4550.27, up 0.17%.
Swiss biotech company Actelion (ALIOF) was the day's star performer, adding 16.8% to climb to Sfr184.5 ($182), after it confirmed reports of an approach by Johnson & Johnson (JNJ) that could be worth $17 billion.