12:04 PM EDT, 10/22/2026 (MT Newswires) -- The European stock markets closed lower in Thursday trading as crude oil prices rose toward $112 a barrel and earnings reports continued to roll out.

The Stoxx Europe fell 1%, Germany's DAX dropped 1%, the FTSE 100 was off 0.3%, France's CAC lost 1.4%, and the Swiss Market Index marginally fell.

In corporate news, Barclays reported Q3 earnings Thursday of 12.3 pence ($0.16) per basic share, up from 10.4 pence a year earlier. Total income for the quarter ended Sept. 30 was 7.37 billion pounds, up from 7.17 billion pounds a year earlier.

The company announced its intention to start a share buyback of up to 500 million pounds, bringing its total year-to-date distribution to 2.8 billion pounds, it added.

Meanwhile, Barclays is going ahead with plans to expand in Saudi Arabia and the wider Middle East, maintaining a constructive view of the region, Bloomberg reported Thursday, citing Asia-Pacific Chief Executive Officer Jaideep Khanna.

The bank is seeking a financial services license to establish a full-fledged platform in Saudi Arabia and plans to expand its presence in Turkey, Khanna said in a Bloomberg TV interview in Singapore, according to the report.

Barclays did not immediately respond to MT Newswires' request for comment.

The British lender also said Thursday that it plans to cut about 5,000 jobs, roughly 5% of its workforce, as it turns to artificial intelligence to trim costs and free capacity for investment.

About 60% of the reductions will fall on support functions, including developers, the company said. The cuts come from organizational simplification and technology changes driven by AI, Barclays said.

Shares of Barclays dropped 2.3% in London.

Nokia reported Q3 comparable earnings Thursday of 0.09 euros ($0.10) per diluted share, up from 0.06 euros a year earlier. Analysts polled by FactSet expected 0.06 euros.

Net sales for the quarter ended Sept. 30 were 5.15 billion euros, compared with 4.70 billion euros a year earlier. Analysts expected 5.10 billion euros.

Shares of Nokia shed over 9% in Helsinki.

Allegion reported fiscal Q3 non-GAAP net income Thursday of $2.60 per diluted share, up from $2.30 a year earlier. Analysts polled by FactSet expected $2.50.

Revenue for the quarter ended Sept. 30 was $1.17 billion, up from $1.07 billion a year earlier. Analysts expected $1.14 billion.

For the full-year 2026, the company raised its adjusted EPS guidance to a range of $9.05 to $9.10, while analysts expect $8.97.

Shares of Allegion climbed 8.4% on the Euronext Global Equity Market.

AstraZeneca reported Thursday the US availability of Zegfrovy for the treatment of adults with locally advanced or metastatic non-small cell lung cancer whose tumors have epidermal growth factor receptor exon 20 insertion mutations.

AstraZeneca also said it has filed an application with the US Food and Drug Administration and China's Center for Drug Evaluation to approve Zegfrovy as a first-line treatment.

Meanwhile, the pharmaceutical company's Alexion unit's Ultomiris received the US Food and Drug Administration accelerated approval to reduce proteinuria in adults with primary IgA nephropathy at risk of disease progression, the company said late Wednesday.

The approval was based on a prespecified interim analysis of the phase III I CAN trial, which showed Ultomiris reduced proteinuria by 43.4% versus placebo at 34 weeks. The treatment is administered intravenously every eight weeks following a loading dose.

Shares of the pharmaceutical company advanced 2.9% in London.

Infineum, a UK-based chemicals group co-owned by Shell and Exxon Mobil, is exploring an $8 billion sale, the Financial Times reported Thursday, citing people familiar with the matter.

Infineum has selected advisers at Bank of America to run the sales process, which launched in recent days and could attract private equity suitors, the report said, citing the people.

Infineum didn't immediately reply to a request for comment from MT Newswires.

Shares of Shell edged 0.5% lower in London.

Rio Tinto and China Mineral Resources Group have reached a long-term iron ore supply agreement earlier this month, Bloomberg reported Thursday, citing sources familiar with the matter.

No financial details were disclosed. Sources told Bloomberg that the deal will cover iron ore deliveries to the Chinese company from November through May 2028.

Rio Tinto did not immediately respond to MT Newswires' request for a comment.

Shares of Rio Tinto fell 3.4% in London.

UBS Group has acquired a minority stake in Indian wealth management firm 360 ONE WAM, the company said Thursday.

The Swiss lender exercised all warrants it was allotted in a deal last year, taking a 4.8% equity stake in the company, or 20.5 million equity shares, the company said.

Shares of the Swiss bank lost 2.9% in Zurich.

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