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European Markets Quiet on May Day, FTSE Edges Lower; UK Manufacturing Reaches Near 4-Year High

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-- Major European stock markets were closed for May Day Friday, except for the FTSE 100, which was edging 0.1% lower.

In the UK, the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index rose to 53.7 in April, which is its highest reading since May 2022.

Meanwhile, the average house price in the UK rose 3% on an annual basis in April to 278,880 British pounds, according to the Nationwide House Price Index.

In corporate news, Aon reported Q1 adjusted earnings Friday of $6.48 per diluted share, up from $5.67 a year earlier. Analysts polled by FactSet expected $6.37.

Revenue for the quarter ended March 31 was $5.03 billion, compared with $4.73 billion a year earlier. Analysts polled by FactSet expected $4.97 billion.

The company said it's reaffirming its 2026 guidance of mid-single-digit or greater organic revenue growth and "strong" adjusted EPS growth.

Shares of Aon were up 3.5% in London.

GSK's Linerixibat, to be marketed as Lynavoy, has been approved by the UK's Medicines and Healthcare products Regulatory Agency for the treatment of itching in adults with primary biliary cholangitis, the agency said Friday.

The oral therapy aims to reduce bile acid buildup linked to the rare liver disease, which can cause persistent itching, the agency said.

Shares of GSK were declining 1.5% in London.

AstraZeneca said Thursday that the US Food and Drug Administration's Oncologic Drugs Advisory Committee has recognized a favorable benefit risk profile for Truqap in combination with abiraterone and androgen deprivation therapy for the treatment of patients with prostate cancer.

The specific indication is for PTEN-deficient metastatic hormone-sensitive prostate cancer, the company said. The committee voted 7 to 1, with one member abstaining, AstraZeneca said.

Shares of the British pharmaceutical company were falling close to 3% in London.

Novo Nordisk said Friday it has rebranded its oral semaglutide medication for type 2 diabetes, formerly known as Rybelsus, as Ozempic.

Starting Monday, Ozempic 1.5 mg, 4 mg and 9 mg tablets will be available for adults with type 2 diabetes in the US, the company said. Rybelsus was first approved by the FDA in 2019 and offered 3 mg, 7 mg and 14 mg tablets, the company said.

"The new Ozempic pill works similarly to semaglutide tablets 3 mg, 7 mg, and 14 mg and has the same efficacy and safety profile as the original formulation offered in a smaller pill," Novo Nordisk said.

Shares of the Danish pharmaceutical company were up 1.4% in Copenhagen.

NatWest reported Q1 earnings Friday of 0.179 British pound ($0.24) per basic share, up from 0.155 pound a year earlier. Analysts polled by FactSet expected 0.169 pound.

Total income for the quarter ended March 31, expressed as the sum of net interest income and total noninterest income, was 4.36 billion pounds, up from 3.98 billion pounds a year earlier. Analysts surveyed by FactSet expected 4.30 billion pounds.

For 2026, the company now expects income excluding notable items to be at the top end of its previous guidance range of 17.2 billion pounds to 17.6 billion pounds.

Shares of the British bank were losing 3.2% in London.

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