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.

At the other end of the market, Daily Mail and General Trust, the owner of British tabloid the Daily Mail, lost 4.3% to trade at 763 pence ($9.51) after Barclays cut its rating on the stock to "underweight" from "equal weight" and lowered its price target to 705 pence from 715 pence.

Bond markets ended the European trading day largely directionless with U.K. Gilts marginally higher while the German 10-year Bund slid a fraction.

Currencies also had a subdued day, with the British pound ending the session unchanged at 1.2454 dollars, while the euro posted a slim gain to close out European trading hours at 1.0598 dollars.

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