12:07 PM EST, 11/22/2024 (MT Newswires) -- European stock markets rose in Friday trading as the Stoxx Europe gained 1.18%, Germany's DAX increased 0.83%, the FTSE in London climbed 1.38%, France's CAC was up 0.58% and the Swiss Market Index advanced 1.08%.

Eurozone business activity slid back into contraction territory in November, according to a provisional reading of the seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index compiled by S&P Global. The index fell to 48.1 in November from 50 in October as Eurozone output declining in two of the past three months.

In Germany, gross domestic product grew 0.1% in Q3 compared with the previous quarter, according to the Federal Statistical Office, which said the economy is showing a small increase in H2.

In the UK, retail sales volumes fell 0.7% in October after rising 0.1% in September, according to the Office for National Statistics. The ONS said non-food stores sales volume declined as retailers reported uncertainty over the government's economic agenda.

The ONS also reported that UK private sector firms saw a modest loss in business activity in November, which ended a 12-month stretch of expansion.

In corporate news, the European Commission said Apple is no longer facing an antitrust investigation after a distributor withdrew its complaint over the terms of the tech giant's App Store for e-book and audiobook developers.

Nokia is launching a stock buyback program to repurchase 150 million shares for up to 900 million euros ($936.2 million). The buyback is intended to "offset" the dilution from issuing new shares to Infinera's stockholders, and the repurchase program will be terminated if the deal is canceled, the company said. Nokia shares rose 1.2% in Helsinki.

British pharmaceutical company GSK said Japan's Ministry of Health, Labor and Welfare has approved an extension of the indication of Arexvy to prevent respiratory syncytial virus disease to include adults aged 50 to 59. GSK shares rose 2.5% in London.