Europe ends mostly lower after GDP; Nokia slumps

European shares closed mostly flat to lower on Friday, as investors weighed better-than-expected euro zone growth data against falling commodity prices.

The pan-European FTSEurofirst 300 provisionally closed 0.2 percent down at 1,344.26.

The U.K.'s FTSE 100 and the French CAC both closed in positive territory, provisionally up 0.2 percent and 0.4 percent respectively, while German stocks ended flat.

Italy's FTSE MIB was Europe's top performing index, closing around 1.0 percent higher.

The week proved mixed for European bourses, with the FTSE and CAC up around around 1.3 percent and 0.3 percent higher respectively. However, the DAX ended around 0.4 percent down on the week and the FTSE MIB was down around 0.7 percent.


Shares of Nokia sank around 5.5 percent after the Finnish technology company held its first capital markets day in five years on Friday. Despite a promising outlook for the firm, traders shunned its stock, as future projections for profit margins at its network division were already factored in by markets.

Read More Nokia plunges as post-Microsoft plans disappoint

Euro zone GDP released

New growth data showed that the euro zone economy expanded by 0.2 percent in the third quarter. Germany narrowly missed falling into recession, while French growth beat forecasts.

In Greece, revised figures showed that the country had emerged from a six-year recession. The Athens stock exchange outperformed most other European indexes, closing up around 0.8 percent.

Italy, however, remained stuck in a negative growth trend in the last quarter.

Read MoreGermany avoids recession, Italy contracts again

Meanwhile, a fresh inflation figure for the whole euro zone confirmed that consumer prices ticked higher by 0.4 percent in October, compared to the same period last year.

U.S. stocks fluctuated on Friday, with investors tracking the price of oil. Data showed October retail sales rose 0.3 percent, just above expectations, and consumer confidence jumped in November.

Oil prices touched four-year lows early Friday after government data showed U.S. crude stockpiles surged at the delivery point for crude futures.

The basic resources sector was under pressure in Europe on Friday, with mining stocks leading the declines as softer metal prices weighed.

Elsewhere, world leaders were gathering in Brisbane, Australia for this weekend's G-20 Leaders' Summit. The global policymakers are addressing global growth challenges with the group's goal of boosting collective GDP by 2 percentage points over five years looking ever more distant.

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