Stocks on the Continent have begun the new month in poor form, with a late advance into the black breaking down as news of the brewing political controversy in the US hit the wires.
US department store chain Macy's announced on Friday that it would be hiring 7,000 additional seasonal employees at its stores after a "great start" to the holiday trading period.
The spotlight on Wall Street shifted rapidly, from Friday afternoon's expected Senate vote on that chamber's proposed tax reforms to the political arena, after news broke that ex-US national security adviser Michael Flynn would testify against the president.
Former US national security adviser Michael Flynn has been charged with making false statements to the FBI in special counsel Robert Mueller’s probe into Russian meddling in last year’s presidential election, with Wall Street markets falling sharply as reports suggest he will testify against Donald Trump.
The results of the most widely-followed survey of manufacturing conditions in the States dipped slightly last month, but continued to point towards robust conditions in the sector.
US manufacturing activity slowed a little less than expected in November, according to figures released on Friday.
An overhaul of US tax legislation is sensible, but it is fair to ask whether now is the best moment to inject fiscal stimulus, the US central bank's number two official said.
US central bankers need to be more cautious, lest the interest rate curve 'invert', choking off growth, a top rate-setter said.
Tax reform in the US introduced by congressional Republicans and Donald Trump hit another stumbling block on Thursday after a key vote in the Senate was pushed back until Friday.
Labour party leader Jeremy Corbyn told Morgan Stanley that banks were right to consider him a threat due to his plans to overhaul a rigged economy that benefits speculators at the expense of everyday people.
Australian surf brand Billabong has received a takeover bid from US rival Boardriders - formerly Quiksilver - which values the group at around AUD198m ($150m).
Markets in Asia finished mixed on Friday, after a rallying session in the US overnight and a further uptick in oil prices, following an agreement between Russia and OPEC to extend their production limit to the end of 2018.
The Democratic Unionist Party has threatened to remove its support for Theresa May’s government if she makes concessions to the EU on the Irish border as part of Brexit discussions.
US futures pointed to a weaker open on Wall Street on Friday as investors awaited a vote on the tax reform bill.
US secretary of state Rex Tillerson will be sacked by President Donald Trump after falling out of favour with the former property mogul, according to reports in the country.
Wall Street continued to push higher on Thursday, amid greater optimism over the likelihood of US tax reforms and the potential impact they might have on stocks.