BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended Friday's session with mixed results. Energy and automakers were under pressure at the end of the trading week. Investors were unimpressed by the results of yesterday's OPEC meeting. OPEC members and some non-OPEC producers agreed to extend a pledge to cut around 1.8 million barrels per day until the end of the first quarter of 2018.
Automakers, particularly German automakers, were under pressure after US President Trump threatened to block German car exports to the United States.
The FTSE 100 of the UK outperformed the rest of the European markets due to a drop in the value of the British pound. A new poll indicated that Britain's opposition Labour Party has cut Theresa May's Conservative Party lead to five points, ahead of the June 8 election.
The pan-European Stoxx Europe 600 index weakened by 0.21 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.17 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.19 percent.
The DAX of Germany dropped 0.15 percent and the CAC 40 of France fell 0.01 percent. The FTSE 100 of the U.K. gained 0.40 percent and the SMI of Switzerland finished higher by 0.08 percent.
In Frankfurt, Volkswagen declined 0.11 percent and Daimler fell 0.52 percent. BMW also weakened by 1.0 percent.
In Paris, Peugeot dropped 0.86 percent and Renault decreased 0.91 percent.
In London, Petrofac sank 9.70 percent, extending yesterday's sharp losses. The company suspended Marwan Chedid as Group Chief Operating Officer until further notice on Thursday. The company said it will cooperate with the SFO Investigation, and formed a Committee to be solely responsible for its engagement with the SFO and to oversee the company's response to their investigation.
Confidence among Germany's exporters was the highest in nearly three-and-a-half years in May as exports continue to rise, results of a study by Ifo showed Friday. The Ifo Export Expectations Index rose to 14.7 balance points in May from 13.8 balance points in April, marking the highest level since January 2014.
Italy's consumer confidence weakened in May to the lowest level in nearly two-and-a-half years, survey figures from the statistical office Istat showed Friday. The consumer confidence index fell to 105.4 in May from 107.4 in April. Economist had expected the index to drop marginally to 107.3.
A report released by the Commerce Department on Friday showed that the U.S. economy grew by much more than initially estimated in the first three months of the year. The Commerce Department said gross domestic product climbed by 1.2 percent in the first quarter compared to the previously reported 0.7 percent increase.
Economists had been expecting a more modest upward revision to the pace of GDP growth to approximately 0.9 percent.
New orders for U.S. manufactured durable goods pulled back by less than expected in the month of April, according to a report released by the Commerce Department on Friday. The report said durable goods orders slid by 0.7 percent in April after jumping by an upwardly revised 2.3 percent in March. Economists had expected orders to slump by 1.4 percent.
Consumer sentiment in the U.S. was virtually unchanged in May, according to revised data released by the University of Michigan on Friday. The University of Michigan said the consumer sentiment index for May was downwardly revised to 97.1 from a preliminary reading of 97.7. The May reading is slightly higher than the final April reading of 97.0.
Economists had expected a more modest downward revision to the consumer sentiment index to a reading of 97.5.
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