European markets closed weak on Friday, with bank stocks posting losses amid concerns about the health of U.S. credit markets. Zions Bancorporation and Western Alliance reported write-offs on bad loans. The Stoxx 600 ended nearly 1% down, with the FTSE 100, DAX, and CAC 40 also in the red. Barclays, Fresnillo, and other companies saw significant losses, while Pearson, Haleon, and others closed with gains. Continental soared after a rating upgrade, while Deutsche Bank and Commerz Bank tumbled. In France, Societe Generale and BNP Paribas ended lower, while EssilorLuxottica reported strong revenue growth.

The French market saw some stability after Prime Minister Sébastien Lecornu survived no-confidence votes. Concerns about U.S.-China trade tensions and the war in Ukraine weighed on sentiment. Various European markets ended weak, with Russia being a notable exception. In the UK, Barclays and other banks saw losses, while companies like Pearson and Burberry Group closed with gains. In Germany, Deutsche Bank and other companies closed sharply lower, while Continental soared after a rating upgrade. In France, Societe Generale and BNP Paribas ended lower, while EssilorLuxottica reported strong revenue growth.

Read more at Nasdaq.: European Markets Close Weak On Credit Market Jitters, Trade Tensions