European stocks were mostly lower in the mid-market trading Friday, weighed down by retailers H&M and Ferragamo with their weak trading updates. Investors are also concerned of uncertainty about the outlook for U.S. tax reform plan and as they assess messages from the Federal Reserve and European Central Bank meetings.
Senator Marco Rubio, R-Fla., indicated his opposition to the legislation currently being negotiated.
On a positive note, data showed an unexpected increase in US retail sales and a drop in jobless claims.
The pan-European Stoxx Europe 600 index traded down 1.67 points or 0.43 percent to 387.24.
France's CAC 40 index traded down 22.48 points or 0.42 percent to 5,334.66.
The benchmark DAX in Germany moved down 38.67 points or 0.30 percent to 13,029.41.
Meanwhile, the FTSE 100, U.K.'s benchmark for blue-chip stocks, traded up 5.91 points or 0.08 percent at 7,454.03, erasing early losses.
In corporate news, Hennes & Mauritz AB or H&M were plunging around 15 percent after the Swedish retailer reported weak sales in its fourth quarter. The second largest fashion retailer's results were hurt by fewer shoppers visiting its stores.
Italian luxury goods company Ferragamo fell around 7 percent after it said it could not confirm earlier set three-year targets and that 2018 would be another year of transition.
Ryanair Holdings plc were down 3 percent after it said the airline has invited pilot unions for talks to recognise them and that it will now change the long standing policy of not recognising unions in order to avoid any threat of disruption to its flights during Christmas week.
Further, CropEnergies's shares were down 6 percent after reporting weak operating profit in its third quarter.
However, cement giant LafargeHolcim's shares were gaining around 3 percent after it said its executive committee will be reduced to 9 members. The company said the 30 largest country organizations will directly report to the Executive Committee and the global business functions will be merged under one leadership.
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