European Stocks Mixed as U.K. Growth Stalls and Vestas Shares Slide on U.S. Offshore Wind Snub

European markets opened without clear direction on Friday as fresh data showed the U.K. economy stagnated in July. The pan-European Stoxx 600 index was flat at 554.46 points at 8:30 a.m. in London, reflecting mixed movements across major regional bourses. The FTSE 100 ticked up 0.28%, while France’s CAC 40 slipped 0.43% and Germany’s DAX fell 0.27%, underscoring investor caution at the end of the trading week.

The latest figures from Britain revealed zero economic growth in July, following a 0.4% expansion in June. The slowdown comes just days before the Bank of England’s next monetary policy meeting, increasing pressure on policymakers as they weigh interest rate decisions. Meanwhile, the European Central Bank opted to hold its key interest rate steady on Thursday, a move widely expected by investors.

Corporate developments added further color to the day’s trading. Spanish lender Sabadell’s board unanimously recommended shareholders reject a hostile €15 billion ($17.6 billion) takeover bid from domestic rival BBVA, with CEO César González-Bueno telling CNBC the offer undervalues the bank. Shares of Sabadell dipped 0.7% while BBVA fell 0.5% in early deals.

Renewable energy firm Vestas Wind was among the session’s biggest losers, shedding 4.3% after U.S. Interior Secretary Doug Burgum signaled that the Trump administration will not support offshore wind power, citing high costs and reliability concerns. The remarks dented investor confidence in the sector and dragged Vestas toward the bottom of the Stoxx 600.

Elsewhere, Ryanair’s CEO Michael O’Leary told the Financial Times the airline may cut another one million tickets to Spain amid an ongoing dispute over taxation. Despite the warning, Ryanair shares rose around 1% in morning trade. Global markets were broadly positive overnight in Asia, while U.S. futures held steady as investors awaited next week’s Federal Reserve meeting, where money markets largely expect a 25-basis-point rate cut after U.S. core inflation ticked up to 3.1% annually in August.

source: cnbc