The European markets were locked in a sideways trend again Friday, fluctuating between small gains and losses throughout the session. The markets ended the day with mixed results.
Investors were in a cautious mood at the end of the trading week, ahead of a highly anticipated speech from Federal Reserve Chair Janet Yellen. Traders are hopeful that Yellen will provide some clues about the outlook for interest rates. Speculation has been running high that the central bank will raise rates at its March meeting.
The pan-European Stoxx Europe 600 index weakened by 0.13 percent. The Euro Stoxx 50 index of eurozone blue chip stocks increased 0.55 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.02 percent.
The DAX of Germany dropped 0.27 percent, but the CAC 40 of France rose 0.63 percent. The FTSE 100 of the U.K. declined 0.11 percent and the SMI of Switzerland finished higher by 0.10 percent.
In Frankfurt, ThyssenKrupp gained 0.23 percent on a report that the company is mulling listing its steel business.
In Paris, Sanofi and AstraZeneca have joined hands to develop and commercialize an antibody to treat the most common respiratory illness in newborns and infants. Sanofi increased 1.15 percent, while AstraZeneca rose 0.71 percent in London.
In London, advertising company WPP sank 7.95 percent after saying it expects slower growth in 2017.
Berendsen plummeted 11.35 percent. The commercial laundry company sounded a more cautious note on its outlook for 2017, citing the legacy issues in the U.K.
Mining giant Rio Tinto lost 0.43 percent after saying it would hold back all outstanding performance-related pay of former CEO Sam Walsh for at least two years.
Glencore advanced 0.70 percent. The company told an independent transparency board that it had paid tens of millions of dollars in mining royalties and bonuses to an Israeli businessman accused of corruption in the Democratic Republic of Congo.
Digital security firm Gemalto surged 7.75 percent in Amsterdam after its full-year financial results exceeded consensus estimates.
Insurer Swiss Life Group rose 1.15 percent in Zurich. The company proposed to boost dividend after reporting a rise in its net profit for fiscal year 2016.
Eurozone retail sales dropped unexpectedly in January as both food and non-food sales weakened from prior month, Eurostat reported Friday. Retail sales slid 0.1 percent month-on-month in January, following a 0.5 percent fall in December. Sales were forecast to grow 0.3 percent.
Eurozone private sector output growth accelerated to a near six-year record in February, final data from IHS Markit showed Friday. The composite output index rose to a 70-month high of 56.0 in February, in line with flash estimate, from 54.4 in January.
Germany's retail sales growth accelerated more than expected in January, figures from Destatis revealed Friday. Retail sales climbed 2.3 percent year-on-year in January, following a revised 0.4 percent rise in December. This was the third consecutive rise and also faster than the expected 0.7 percent.
UK services activity expanded at the slowest pace in five months in February as cautious consumers curbed their spending in the wake of the Brexit-related uncertainty.
The headline services Purchasing Managers' Index dropped to 53.3 in February from 54.5 in January, survey data from the Chartered Institute of Procurement & Supply and IHS Markit showed Friday. This was the weakest expansion since September and stayed below the expected score of 54.0.
The UK private sector growth picked up in the three months to February, according to the growth indicator, published by the Confederation of British Industry on Friday. The growth indicator rose to +15 percent from +10 percent in January. Looking ahead, companies across sectors expect to see similarly decent growth, with score seen at +17 percent over the next quarter.
China's private sector expanded at a slightly faster pace in February supported by manufacturing activity amid softening services growth, survey results from IHS Markit showed Friday.
The Caixin China composite output index rose to 52.6 in February from January's four-month low of 52.2. A score above 50 indicates expansion in the sector.
The uptick in the headline index was supported by faster growth in manufacturing production in February. At the same time, services activity expanded at the slowest pace in four months.
The seasonally adjusted services Purchasing Managers' Index came in at 52.6 versus 53.1 in January.
Service sector growth in the U.S. unexpectedly accelerated in the month of February, according to a report released by the Institute for Supply Management on Friday.
The ISM said its non-manufacturing index climbed to 57.6 in February from 56.5 in January, with a reading above 50 indicating growth in the service sector. Economists had expected the index to come in unchanged compared to the previous month.
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