12:07 PM EDT, 06/21/2024 (MT Newswires) -- The European stock markets closed lower in Friday trading as The Stoxx Europe 600 fell 0.69%, the Swiss Market Index was down 0.84%, France's CAC was off 0.56%, the FTSE in London dropped 0.42%, and Germany's DAX closed 0.50% lower.

The seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index compiled by S&P Global declined to 50.8 in June from 52.2 in May. Despite the decline, it was the fourth straight monthly increase in business activity, suggesting GDP will continue to expand in Q2.

In the UK, private sector business activity expanded in June at its slowest rate since November as the headline seasonally adjusted S&P Global Flash UK PMI Composite Output Index fell to 51.7 in June from 53.0 in May. Despite remaining above the 50-point threshold indicating growth, the expansion was the weakest recorded since November.

Meanwhile, UK retail sales volumes increased 2.9% in May after declining 1.8% in April, according to the Office for National Statistics. Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding after inclement weather in April.

In Germany, the house price index fell 5.7% on average across the country during Q1 compared with the year-earlier quarter, according to the Federal Statistical Office. It was the sixth consecutive quarter German house prices have declined.

In France, the monthly business climate in France is stable for the third month in a row in June compared with May, according to the Institute for Statistics and Economic Studies.

In Italy, the house price index decreased 0.1% in Q1 compared with the previous quarter and increased 1.7% compared with the same quarter of the previous year, according to preliminary estimates from the Italian National Institute of Statistics.

And in corporate news, private equity firm KKR said Friday it agreed to acquire UK-based Superstruct Entertainment from Providence Equity Partners. Superstruct owns and operates music festivals in Europe and Australia. Financial terms were not disclosed.

French oil and gas company TotalEnergies said Friday that, as a shareholder of Offshore Wind One, it has been awarded a maritime concession from the German Federal Network Agency that covers 156 square kilometers in the North Sea. The concession allows the company to develop a 3.5 GW offshore wind hub.