12:05 PM EDT, 10/03/2025 (MT Newswires) -- The European stock markets closed mostly higher in Friday trading as the Stoxx Europe 600 gained 0.49%, the FTSE 100 rose 0.67%, France's CAC increased 0.31%, the Swiss Market Index advanced 0.64%, while Germany's DAX was off 0.15%.

The euro area economy grew for the fourth straight month as the HCOB Eurozone Composite PMI Output Index rose to 51.2 in August from 51.0 the previous month.

Meanwhile, the HCOB Eurozone Services PMI Business Activity Index increased to 51.3 in September from 50.5 in August, as the index remained above the 50.0 threshold, indicating expansion for the fourth consecutive month.

Eurostat, the statistical office of the European Union, reported Friday that industrial producer prices decreased 0.3% in the euro area and 0.4% in the EU in August compared with July. Compared with a year earlier, industrial producer prices declined 0.6% in the euro area and 0.4% in the EU.

The largest monthly decreases in industrial producer prices were in Denmark (-1.3%), the Netherlands and Romania (-1.0% each), and Austria (-0.8%). The highest increases were in Estonia (+5.4%), Finland (+1.9%), and Slovakia (+1.3%).

And in corporate news, BP is seeking a partner for its Bumerangue oil discovery in Brazil, Reuters reported Thursday, citing BP's country head Andres Guevara. BP, which holds 100% of the block, said in August that Bumerangue was its largest oil and gas discovery in 25 years, according to the report.

BP did not immediately respond to requests for comment from MT Newswires.

Shares of BP gained 0.30% on the FTSE 100 in London.

UBS Group-managed funds face more than $500 million of exposure to auto parts supplier First Brands Group, which recently filed for Chapter 11 bankrupcy protection, Bloomberg News reported Thursday, citing court documents. UBS Hedge Fund Solutions is the biggest unsecured creditor with a $233.7 million claim for offering supply chain financing, according to the report.

"This event affects many private credit and working capital providers across the industry," a UBS spokesperson said in a statement e-mailed to MT Newswires. "In this highly fluid situation, we are working to determine the potential performance impact on the small number of our affected funds, and are focused on protecting the interests of our clients."

Shares of UBS were up 2.2% in Zurich.

Shell-led LNG Canada has kicked off the process of starting its second 6.5 million tonnes per annum liquefied natural gas processing unit in British Columbia, Reuters reported Thursday, citing a company spokesperson. However, the company has been experiencing technical problems with its first train since July, a month after it started first production, two people with knowledge of the operations told Reuters.

Shell did not immediately respond to MT Newswires' request for comment on the matter.

Shares of Shell rose 1.2% in London.

Banco Santander said Friday its UK Chief Executive Mike Regnier plans to step down by Q1 of 2026. Regnier wants to depart with the bank ahead of its integration with TSB Banking Group, which it bought in July.

The bank said it has started a search to find a successor for Regnier, who has led Santander UK since March 2022.

Shares of Banco Santander closed 1% higher in Madrid.

http://www.mtnewswires.com
Copyright © 2025 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.