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European Equities Decline in Friday Trading; Paris, Frankfurt Markets Down Sharply for Week

12:09 PM ET 11/07/2025 - MT Newswires

The French and German stock markets dropped sharply over the past five trading sessions as the CAC in Paris fell more than 2% for the week, while the DAX in Frankfurt closed 1.7% lower.

Euro area seasonally adjusted services production increased 0.1% on the month in August, while declining 0.2% in the EU, according to preliminary estimates from Eurostat, the statistical office of the European Union. Compared with a year earlier, services production increased 1.7% in the euro area and 1.8% in the EU.

In Germany, the trade balance closed with a surplus of 15.3 billion euros in September, compared with 16.9 billion euros in August, and 18.0 billion euros a year earlier. Analysts expected a trade balance of 16.7 billion euros, according to Bloomberg.

Home prices in the UK rose 0.6% in October to a record high 299,862 pounds ($393,554), which is the fastest rate since January, after declining 0.3% the previous month, according to the Halifax House Price Index. The rate was significantly faster than the 0.1% expected by analysts, according to Bloomberg.

"Demand from buyers has held up well coming into autumn, despite a degree of uncertainty in the market, with the number of new mortgages being approved recently hitting its highest level so far this year," Amanda Bryden, Halifax's head of mortgages, said in a statement.

And in corporate news, AstraZeneca said Friday that data from a late-stage trial showed Fasenra significantly delayed the time to first worsening or flare in patients with hypereosinophilic syndrome. The company said the trial has met its primary endpoint and treatment with Fasenra reduced risk of worsening or flare by 65%, while also improving fatigue symptom relief by week 4 and persisted to week 24. Fasenra reduced the annualized flare rate by 66% and delayed time to first hematologic relapse, while also meeting all key secondary endpoints, AstraZeneca said.

Shares of the British pharmaceutical company was up 0.5% in London.

Nokia has signed an agreement with Latvian mobile operator Latvijas Mobilais Telefons to develop a 5G tactical communications system for defense applications in the Baltic region, the companies said Friday. Under the deal, Nokia's 5G radio technology will integrate with LMT's defense solutions to create a secure high-speed network for real-time data exchange between unmanned vehicles, sensors, and military teams.

Shares of Nokia closed 1.6% lower in Helsinki.

Shares of UK online property portal Rightmove fell 13% on the FTSE 100 after it reported that is aiming to increase spending on artificial intelligence, which analysts said will dampen earnings over the next few years, according to Bloomberg.