12:07 PM EDT, 09/06/2024 (MT Newswires) -- European stock markets closed sharply lower in Friday trading as the Stoxx Europe 600 fell 1.07%, the Swiss Market Index dropped 1.02%, France's CAC lost 1.07%, the FTSE in London declined 0.73%, and Germany's DAX was down 1.48%.

European Union and euro area seasonally adjusted GDP decelerated in Q2 to 0.2% after both rose 0.3% in Q1, according to estimates from Eurostat, the statistical office of the EU. Compared with a year earlier, seasonally adjusted GDP increased 0.6% in the euro area and 0.8% in the EU.

In Germany, price-adjusted production in the manufacturing sector fell 2.4% in July from June, according to preliminary data from the Federal Statistical Office

In the UK, house prices rose 0.3% in August from July and 4.3% from a year earlier, according to Halifax's House Price Index. The annual price increase was the largest in the UK since November 2022.

In Italy, the seasonally adjusted retail trade index rose 0.5% in value terms in July from June, while volume grew 0.3% compared with the previous month. Compared with a year earlier, the value of retail trade increased 1.0% while sales volume nudged 0.1% higher.

And in corporate news, the Netherlands said Friday that it is expanding the national export control measure applicable to advanced semiconductor manufacturing equipment, making more types of chipmaking equipment subject to a national authorization requirement that becomes effective Saturday.

Dutch Minister for Foreign Trade and Development Reinette Klever said Friday that she "made this decision for reasons of security," adding that "technological advances have given rise to increased security risks associated with the export of this specific manufacturing equipment."

In response to the Dutch government's announcement, Dutch chipmaker ASML said it "believes this requirement will harmonize the approach for issuing export licenses." It also said it "will need to apply for export licenses with the Dutch government rather than the US government for shipments of its TWINSCAN NXT:1970i and 1980i DUV immersion lithography systems."

GSK said Friday that a phase 3 trial evaluating Nucala in adults with chronic obstructive pulmonary disease met its primary endpoint. The British pharmaceutical company said the study results showed a statistically significant and clinically meaningful reduction in the annualized rate of moderate to severe exacerbations compared to placebo.