Europe close: Stocks end mixed as CPI data overshoots, slight beat on GDP figures

European shares finished on a mixed note on Friday amid a mixed batch of economic data out in the euro area with estimates of gross domestic product undershooting economists' outlooks, but preliminary estimates of inflation scattered above and below forecasts.

Weaker commodity prices also dragged on miners, even as investors digested mixed earnings results from US tech giants Amazon and Apple with shares of the former off sharply but the latter reacting well.

Lower than expected readings on US private sector wage growth however acted as a partial offset.

The pan-European Stoxx 600 index added 0.14% to 410.76, alongside a 0.24% rise for the German Dax to 13,243.33 while the FTSE Mib drifted lower by 0.27% to 22,529.20.

The euro came off earlier highs of 0.9998 to close at 0.9936 while longer-term euro area government debt saw some selling on the back of worse than expected consumer price prints for October out in Germany and France.

In other economic news, German gross domestic product growth surprised sharply to the upside for the third quarter, coming in at 0.3% quarter-on-quarter (consensus: 0.5%).

French GDP was in line with forecasts, Spanish GDP undershot slightly and Austria and Belgium recorded dips of 0.1% on the quarter.

Italian GDP figures, which were due out on the following Monday, would decide whether GDP for the whole euro area grew by 0.2% quarter-on-quarter over the three months to September (Barclays: 0.1%) or if it was in line, Barclays Research said.

In equity news, Britain’s NatWest Bank fell 9% as earnings missed estimates and the bank prepared for more bad loans.

Volkswagen shares dipped 0.4% even as the carmaker said it expected deliveries to be around the same as last year, and reported third-quarter earnings of €4.3bn.

Danone was up after it raised its 2022 revenue growth forecast, as the French food group was able to raise prices to counter soaring costs.

Austrian oil and gas major OMV jumped 9% after third-quarter results were boosted by higher energy prices.

Shares in British Gas owner Centrica added 5% after it announced the re-opening of its mothballed Rough gas storage facility off the UK's east coast, slightly easing supply concerns.

Rough had been shut for five years after the Conservative government refused to subsidise upgrade costs.