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European markets close slightly lower as investors digest fresh economic data; German inflation falls

Karen Gilchrist

This is CNBC's live blog covering European markets.

European markets closed slightly lower Friday as investors digested the latest slew of corporate earnings and economic data.

European markets


The pan-European Stoxx 600 provisionally closed 0.08% lower, rounding off a second straight week of limited movements. Tech stocks were 1.2% higher, while food and beverage dropped 1.5%.

L'Oreal shares lost 7.3% after reporting lower-than-expected sales and pointed to a slowdown in demand in Asia. Meanwhile, Hermes shares rose up 4.8% on the back of a strong earnings report.

German inflation fell in January to 3.1% in a buoying sign for Europe's largest economy, new data from the the federal statistical office showed Friday.

In Asia-Pacific, Japan's Nikkei hit fresh 34-year highs on Friday, while most markets were either fully or partially closed for the Lunar New Year holiday. The Nikkei 225 breached the 37,000 mark for the first time in 34 years, rising 0.4%, while the Topix was flat.

Stateside, U.S. stocks gained after the S&P 500 crossed the historic 5,000 milestone for the first time during intraday trading.

We see tailwind in the second half of the year supported by the macro: Mediobanca CEO

We see tailwind in the second half of the year supported by the macro: Mediobanca CEO
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We see tailwind in the second half of the year supported by the macro: Mediobanca CEO
Squawk Box Europe

Mediobanca CEO Alberto Nagel says he sees tailwinds for the company in the second half of this year, supported by the macro environment.

US stocks open higher

U.S. stocks rose at the open, after the U.S. government said December's inflation reading was even lower than first reported.

The S&P 500 broke above the 5,000 level, after briefly trading above the historic milestone on Thursday.

— Samantha Subin

Barclays buys Tesco bank in $757 million deal

Light shining on the Tesco Bank telephone contact centre in Glasgow, Scotland.
Nurphoto | Getty Images

Barclays agreed to buy the majority of Tesco's banking business in a deal worth £600 million ($756 million).

Barclays will take over Tesco Bank's credit cards, loans and savings accounts as the U.K. supermarket chain retreats from its move into financial services.

Shares of Tesco were up 0.9% in early deals while Barclays shares fell 1.2%.

— Karen Gilchrist

Stocks on the move: Ubisoft up 15%; L'Oreal down 7%

Tencent has increased its stake in French games maker Ubisoft, the company behind popular franchises like Assassin's Creed. But analysts said this has effectively closed the door on a full takeover of the company.
Rafael Henrique | Sopa Images | Lightrocket | Getty Images

Shares of French video game Ubisoft maker were up 15% in early deals as the company pointed to a "turnaround" in its output in its latest earnings report.

Meanwhile, L'Oreal shares were down 7% after reporting lower-than-expected fourth-quarter sales Thursday in a sign of continued pressure on the luxury market.

— Karen Gilchrist

German inflation falls to 3.1% in January

German inflation fell in January to 3.1%, new data from the the federal statistical office showed Friday.

The consumer price data confirms preliminary estimates and is down from a 3.8% year-on-year rise in inflation in December.

— Karen Gilchrist

European markets: Here are the opening calls

European markets are set to open in positive territory Thursday.

The U.K.'s FTSE 100 index is expected to open 13 points higher at 7,606, Germany's DAX down 15 points at 16,945, France's CAC down 23 points at 7,634 and Italy's FTSE MIB 33 points higher at 31,220, according to data from IG. 

Earnings are set to come from Unilever, Societe Generale, Maersk, Siemens and Adyen.

— Karen Gilchrist

CNBC Pro: Nintendo's stock could rise by 30%, say analysts — if it overcomes these hurdles

Japanese video game company Nintendo's stock price could rise by over 30% in the next 12 months if its highly anticipated console proves a success and overcomes several hurdles, according to equity analyst David Gibson.

The gaming company could leverage its 130 million strong customer base to sell its next-generation devices. Its shares are traded in the United States, Germany and Japan.

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: Asset manager names one under-the-radar market to buy when times are bad, giving 6 stock picks

Concerns over worsening geopolitical tensions, volatility in corporate earnings and uncertainty on when the U.S. Federal Reserve will cut interest rates have sent some investors on the hunt for safe-haven assets – and markets – to put their money in.

One European index stands out to portfolio manager Carla Bänziger even in a falling market, thanks to the "decent valuations" of its large and small- mid-cap stocks.

"People recommend investing in [this] market during uncertain periods – like if you are expecting a recession. For retail investors, I think it would make sense to have part of your investments in [these] equities to balance out any volatility in the market," the portfolio manager said, naming six stocks to invest in.

CNBC Pro subscribers can read more here.

— Amala Balakrishner