12:11 PM EDT, 07/24/2026 (MT Newswires) -- European stock markets closed higher in Friday trading as the eurozone private sector expanded in July and oil prices retreated.

The Stoxx Europe 600 and the Swiss Market Index each advanced 0.8%, the FTSE 100 and France's CAC 40 each rose 0.9%, and Germany's DAX 40 climbed 1.4%. Bank stocks led the gains.

The eurozone private sector returned to growth in July with provisional estimates on the S&P Global Flash Eurozone Composite PMI Output Index rising to 51.9 in July from 50.0 in June. A reading above 50 indicates expansion, while below 50 represents contraction.

"July is seeing a welcome revival of economic activity in the eurozone, but a volatile geopolitical environment means it remains to be seen if the good news can last," Chris Williamson, S&P Global Market Intelligence's chief business economist, said in a statement.

In corporate news, Novo Nordisk is seeking a preliminary US court injunction to immediately block advertising by Eli Lilly for its obesity and diabetes drugs, escalating the legal dispute over weight-loss drug marketing, Reuters reported.

"Misleading advertisements that selectively compare lower doses of Novo Nordisk's medicines against higher doses of Lilly's medicines, based on outdated studies, leave patients with the mistaken impression that Lilly's drugs are vastly superior, and that is simply not true." Novo Nordisk said in an emailed statement to MT Newswires.

"Novo Nordisk has never tested its highest doses of semaglutide against Lilly's tirzepatide medicines in any clinical trial; instead, it is using a lawsuit to advance comparisons it has never put to the test," Lilly said. "We stand behind the science and our advertising, and we will oppose this motion vigorously."

Novo shares closed little changed in Copenhagen.

BP is in advanced talks to sell its solar power arm Lightsource to a consortium comprising Qualitas Energy, a private equity firm focused on green energy, and Wren House, the infrastructure arm of the Kuwait Investment Authority, Reuters reported.

Shares of the oil and gas major fell 1.4% in London.

AstraZeneca said the European Medicines Agency's Committee for Medicinal Products for Human Use recommended approval of Trixeo Aerosphere as a maintenance treatment for asthma patients aged 12 and older who remain uncontrolled on medium-dose inhaled corticosteroid and long-acting beta2-agonist therapy.

Additionally, AstraZeneca and Daiichi Sankyo's Enhertu, in combination with pertuzumab, was recommended for approval in the EU as a first-line treatment for adult patients with unresectable or metastatic HER2-positive breast cancer, according to a Friday statement.

Shares of the British pharmaceutical company gained 0.5% in London.

GSK said Health Canada approved a prefilled syringe presentation of its shingles vaccine, Shingrix, eliminating the need to reconstitute separate vials before administration.

Shares of GSK rose 1% in London.