European Stocks Close On Firm Note

European stocks closed higher on Friday after China Evergrande Group supplied funds to pay interest on a U.S. dollar bond, helping ease contagion fears.

Investors also digested a slew of economic data and corporate earnings updates.

The pan European Stoxx 600 climbed 0.46%. The U.K.'s FTSE 100 advanced 0.2%, Germany's DAX gained 0.46% and France's CAC 40 surged up 0.71%, while Switzerland's SMI edged up 0.14%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden and Turkey closed higher.

Czech Republic, Iceland, Poland, Russia and Spain ended weak, while Greece settled flat.

In the UK market, Polymetal International gained nearly 3%. Croda International climbed 2.6%, while DCC, Fresnillo, Mondi, Evraz, Smurfit Kappa Group, AstraZeneca and Flutter Entertainment gained 1.5 to 2.1%.

JD Sports Fashion gained nearly 2% after it acquired 80 percent of Greece-based Cosmos Sport S.A.

London Stock Exchange shares tumbled 6% after a warning that "supply chain pressures may impact the timing of some technology spend this year."

Intercontinental Hotels lost about 3%. The hotel chain said its revenue per available room was 21% below 2019 levels in the third quarter.

IAG, Rolls-Royce Holdings, Taylor Wimpey, Auto Trader Group, Aveva Group, Whitbread, Associated British Foods and Barratt Developments lost 1 to 3%.

In the French market, LOreal surged up more than 5% after posting better-than-expected revenue growth for the third-quarter.

Unibail Rodamco, Atos, Capgemini, Hermes International, Veolia, Sanofi, STMicroElectronics, LVMH, Legrand and Vivendi gained 1 to 4%.

Air France-KLM, Accor, Airbus and Michelin shed 1 to 2%.

In Germany, Volkswagen, BMW, Infineon Technologies, Linde, Porsche Automobil, Henkel, Deutsche Post, SAP, Puma and RWE gained 1 to 2.3%.

Shares of Swedish mining firm Boliden plunged sharply after the company's third-quarter operating profit missed forecasts. Hygiene products maker Essity gained more than 4% after setting a new target to ramp up sales.

In economic releases, the flash euro zone composite output purchasing managers index (PMI) dropped to a six-month low of 54.3 in October from 56.2 in September, according to IHS Markit. The flash services PMI dropped to 54.7 from 56.4, also a six-month low.

Germany's private sector growth weakened to an eight-month low in October, flash survey results from IHS Markit showed. The headline composite output index fell more-than-expected to 52.0 in October from 55.5 in the previous month. The expected level was 54.0.

The manufacturing Purchasing Managers' Index fell to a nine-month low of 58.2 from 58.4 in September, while the services PMI declined to 52.4 from 56.2 a month ago.

France's private sector grew at the slowest pace in six months in October, flash survey results from IHS Markit showed. The composite output index fell to 54.7 in October, as economists' expected, from 55.3 in September.

The services Purchasing Managers' Index came in at 56.6, up from 56.2 in September, while the manufacturing PMI declined more-than-expected to 53.5 from 55.0 in the previous month.

The seasonally adjusted IHS Markit/CIPS U.K. manufacturing PMI unexpectedly improved to 57.7 in October versus 55.8 expected while the services PMI came in at 58.0 versus 54.5 expected.

U.K. retail sales volume including auto fuel decreased 0.2% month-on-month in September, after easing by revised 0.6% in August, the Office for National Statistics said. Sales were forecast to grow 0.5%.

Separately, survey results from market research group GfK showed that U.K. consumer confidence weakened for the third straight month in October, falling to -17 from -13 in September. The expected reading was -16.

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