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European stocks closed lower on Friday and several markets<\/span> in the region dropped to multi-month lows, as U.S. PCE data raised concerns the Federal Reserve will continue to keep its monetary policy tight. The latest batch of corporate earnings updates were a bit disappointing.<\/p>\n The pan European Stoxx 600 dropped 0.84%. The U.K.’s FTSE 100 ended 0.86% down, Germany’s DAX ended lower by 0.3%, and France’s CAC 40 drifted down 1.36%. Switzerland’s SMI finished with a loss of 0.42%.<\/p>\n Among other markets in Europe, Austria, Belgium, Denmark, Netherlands, Poland, Spain and Sweden ended weak.<\/p>\n Finland, Greece, Norway, Portugal and Turkiye closed higher, while Iceland and Russia ended flat.<\/p>\n France’s consumer sentiment improved marginally in October, survey results from the statistical office INSEE showed earlier today.<\/p>\n The consumer sentiment index moved up to 84 in October from 83 in September. The reading was forecast to remain unchanged to 83.<\/p>\n The survey was conducted between September 26 and October 18. <\/p>\n The Bank of Russia raised its benchmark rate by a bigger-than-expected 200 basis points as inflationary pressures moved significantly above expectations.<\/p>\n In the UK market, Natwest Group shares tanked nearly 12% on weak results. The stock was also weighed down by reports that the Financial Conduct Authority found “potential regulatory breaches” in its report into a banking account scandal that ousted NatWest CEO Alison Rose.<\/p>\n Lloyds Banking and Diageo dropped about 3% and 2.7%, respectively. <\/p>\n Intertek, GSK, CRH, AstraZeneca, Reckitt Benckiser, Standard Chartered, British American Tobacco, Unilever, Centrica, HSBC Holdings and M&G ended lower by 1.3 to 3%.<\/p>\n Among the gainers, Fresnillo climbed nearly 3%, Rentokil Initial gained 2.8%, Mondi advanced 2.3% and Just Eat Takeaway.com surged almost 2%.<\/p>\n Vodafone, Segro, Prudential, Antofagasta, Taylor Wimpey, Flutter Entertainment, TUI, WPP, Ds Smith, Pennon and Croda International also ended notably higher.<\/p>\n Shares of IAG ended weak despite reporing a profit of 1.745 billion Euro for the third quarter.<\/p>\n In Paris, Sanofi plunged 19% after it forecast lower profit next year and announced plans to split its consumer-healthcare and pharmaceutical business<\/span>.<\/p>\n STMicroElectronics declined 3.7%. Stellantis, Pernod Ricard, Danone, Edenred, Capgemini, Airbus Group and LVMH lost 1 to 2%.<\/p>\n WorldLine shares soared more than 9%. Unibail Rodamco, Teleperformance, Saint Gobain, Schneider Electric, Vinci, Alstom, Essilor and Renault gained 1.4 to 3.5%.<\/p>\n In the German market, Covestro ended 3.4% down. Mercedes-Benz, MTU Aero Engines, Porsche, Qiagen, Hannover Rueck, Fresenius Medical Care and Merck ended lower by 1 to 3%.<\/p>\n Siemens Energy rallied 9%. Sartorius climbed nearly 4%, and Continental advanced 1.8%. Vonovia and Siemens also ended notably higher. <\/p>\n In U.S. economic news, a Commerce Department report showed its reading on consumer prices rose by 0.4% in September, matching the increase in August. Economists had expected prices to rise by 0.3%.<\/p>\n The annual rate of consumer price growth was unchanged at 3.4%, while the annual rate of core consumer price growth slipped to 3.7% in September from 3.8% in August. Both year-over-year readings matched expectations. <\/p>\n<\/p>\n<\/div>\n