European markets opened lower on Friday as investors reacted to disappointing data from the region's two largest economies.
The pan-European Stoxx 600 fell 0.18% after the opening bell, following an unexpected contraction in UK GDP and key export data from Germany.
The UK economy contracted by about 0.1% on a month-on-month basis, the ONS said on Friday, with officials attributing the decline to a drop in output. Economists polled by Reuters had projected a 0.1% rise in GDP in October.
On Thursday, the European Central Bank cut its main interest rate by 25 basis points, marking its fourth and final rate cut this year. Policymakers have also hinted at the possibility of further cuts in 2025.
The Swiss National Bank also cut interest rates by a larger-than-anticipated 50 basis points on Thursday, while Denmark's central bank announced a 25 basis point cut.
Central bank watchers now turn their attention to next week and interest rate decisions from the US Federal Reserve and the Bank of England.
Source: CNBC
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