Europe close: Stocks end on a mixed note

European equities finished the Friday session on a mixed note as investors kept their cards close to their chests ahead of the European Central Bank’s (ECB) ‘stress tests’ which were due out this weekend.

The ECB’s so-called Asset Quality Review (AQR) were to show that 25 lenders were set to fail, according to at least three ‘leaks’ which found their way to the trading floors with 90 minutes left until the end of trading in the European session.

Investor sentiment had been weighed down throughout the day by news of an Ebola case – but not contagion – in New York and a report that Chinese house prices fell in September.

Analysts stressed however that it was not a case of contagion but rather of a healthcare worker recently returned from travels in Africa.

At the closing bell the Dax 30 was lower by 59.51 points to 8,987.80, although the FTSE Mibtel had managed to turn around from earlier to finish higher by 0.31% and the Ibex 35 by another 0.05%.

Volvo moves sharply higher

Shares in Swedish truck-maker Volvo rocketed 7% after the company announced a 54% increase in its cost-cutting target.

German chemicals giant BASF predicted it would no longer hit its profit targets for 2015.

From a sector stand-point the worst performance on the DJ Stoxx was being seen in the following industrial groups: Oil&Gas (-1.37%), Basic Resources (-1.33%) and Chemicals (-1.16%).

German consumer confidence edges higher

An index of German consumer confidence rose to a reading of 8.5 points in November, after a print of 8.4 in the month before (consensus: 8), survey compiler GfK said.

Crude futures slip

Front month Brent crude futures were lower by 0.47% to $86.42 per barrel on the ICE.

The euro/dollar was edging higher by 0.13% to 1.2663.