12:17 PM EST, 11/08/2024 (MT Newswires) -- The European stock markets closed lower in Friday trading as The Stoxx Europe fell 0.66%, Germany's DAX dropped 0.81%, the FTSE in London lost 0.84%, France's CAC was down 1.17%, and the Swiss Market Index closed 1% lower.

The seasonally adjusted services production increased 0.4% in the euro area and the European Union in August compared with July, according to first estimates from Eurostat, the statistical office of the EU. Compared with a year earlier, services production increased 2.0% in the euro area and 2.2% in the EU.

In the UK, October's KPMG and REC's UK Report on Jobs survey, compiled by S&P Global, showed continued declines in permanent and temporary placements during the month. According to the report, it was the steepest decline since March, which it attributed to reports of reduced demand and hiring freezes.

And in corporate news, shares of Vistry Group tumbled nearly 16% on the FTSE in Friday trading after the British homebuilder lowered its forecast for completed houses in fiscal 2024 to 17,500 from previous guidance of over 18,000.

Stellantis said it is laying off about 1,100 employees at its Jeep Gladiator plant in Ohio as early as Jan. 5 to improve efficiency and reduce high inventory levels, the company told MT Newswires.