12:27 PM EST, 02/09/2024 (MT Newswires) -- The European indexes closed lower on Friday as the Stoxx Europe 600 was off 0.08%, the Swiss Market Index was down 0.42%, France's CAC fell 0.24%, the FTSE in London was down 0.30 %, and Germany's DAX closed 0.22% lower.

In Germany, the harmonized index of consumer prices for January was 3.1% compared with the same month last year, according to the Federal Statistical Office, which Thursday reported that the annual consumer price index was 2.9% in January.

France's economic activity remained flat in Q4 as expected, according to the Institute for Statistics and Economic Studies.

In Italy, the seasonally adjusted industrial production index rose 1.1% in December from November, according to the Italian National Institute of Statistics. Compared with December 2022 the calendar adjusted industrial production index decreased 2.1%.

And in corporate news, L'Oreal was among the steepest the decliners on the CAC, falling more than 7% after the cosmetics company reported late Thursday slower revenue growth in Q4 as sales came in less than expected. The company reported 10.61 billion euros ($11.44 billion) in sales, compared with 10.9 billion euros, according to consensus estimates cited by Barclays, Reuters reported.

Hermes International led the gainers on the CAC, rising nearly 5% after it reported better-than-expected Q4 revenue. The luxury goods company reported a 17.5% increase in Q4 revenue, while analysts expected 14%, according to Bloomberg.

Mining stocks were slumping in Friday's trading session as Fresnillo led the decliners on the FTSE, falling 3.4%, followed by Glencore, which dropped 3% and Anglo American, which closed 2.1% lower.

Bank stocks were also trending lower as NatWest Group fell 2.2% in London, followed by HSBC and Standard Chartered, down 1.3% and 1% respectively. BNP Paribas lost 2% in Paris, followed by Societe Generale and Credit Agricole, falling 1.2% and 1.1% respectively.

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