The European stock markets closed sharply lower in Friday trading as turmoil in the Middle East continues to choke global oil supplies.
The Stoxx Europe dropped 1.1%, Germany's DAX fell 1.6%, the FTSE 100 decreased 1.5%, France's CAC lost 1.5%, and the Swiss Market Index closed 1.2% lower.
In corporate news, European refiners may not be allocated any crude oil next month after Saudi Arabia's main pipeline to the Red Sea was attacked, Bloomberg reported Friday.
Saudi state-owned oil and gas company Saudi Aramco told at least two European oil refining firms that they will not receive crude oil next month due to the fighting, according to the report, which added that European customers normally receive a continuous flow of supply every month.
The East-West pipeline was shut last week after drone attacks, according to Bloomberg. The line is expected to partially resume operations within days and return to full service within six weeks, a person familiar with the situation told the news outlet.
Saudi Aramco didn't immediately respond to a request for comment from.
AstraZeneca said Friday the US Food and Drug Administration granted priority review to its Alexion unit's biologics license application for efzimfotase alfa to treat patients aged two years and older with hypophosphatasia, a genetic bone disorder.
The health regulator is expected to make a regulatory decision in H1 2027, and the filing is supported by results from three phase 3 trials in children and adults, the company said.
Meanwhile, AstraZeneca and Daiichi Sankyo's Enhertu has been recommended for approval in the European Union as a monotherapy for the adjuvant treatment of adults with resected HER2 positive breast cancer who have residual disease after neoadjuvant treatment, Daiichi Sankyo said Friday.
Shares of AstraZeneca rose 0.6% in London.
Banco Santander, NatWest, and JPMorgan Chase are providing 1.1 billion British pounds ($1.47 billion) in bridge funding for Drax's acquisition of renewable energy firm Bluefield Solar Income Fund, Bloomberg reported Friday, citing people familiar with the matter.
The loan, led by JPMorgan and Banco Santander, will enable Drax to add solar and wind assets to its portfolio, the report said. The banks plan to sell the debt to institutional investors later this year or in early 2027, and Drax may also look into refinancing outstanding debt, the unnamed sources reportedly said.
Drax, JPMorgan, Santander and NatWest did not immediately respond to requests for comment from.
Shares of Banco Santander dropped 3.3% in Madrid, while NatWest fell 1.9% in London.
Novo Nordisk said Friday the European Medicines Agency's CHMP recommended once-weekly Sogroya for children with idiopathic short stature and persistent growth disturbance.
If approved by the European Commission, Sogroya would become the first and only growth hormone treatment approved for idiopathic short stature in the EU, the company said. The European Commission's decision is expected later this year, Novo Nordisk said.
Shares of the Danish pharmaceutical company gained 0.8% in Copenhagen.
HSBC's Australian retail deposit business is being considered for acquisition by National Australia Bank, the Australian reported Friday.
HSBC sold its Australian home and personal loan portfolio to Blackstone in July, the report said. National Australia Bank is currently doing diligence on the potential acquisition, the report said.
HSBC declined to comment. National Australia Bank did not immediately reply to' request for comment.
Shares of HSBC declined 1.6% in London.
BP Developments Australia has agreed to sell a 5% stake in the Browse liquefied natural gas project in Western Australia to Osaka Gas Browse, Osaka Gas said Friday.
Osaka Gas said that the purchase will be funded by Osaka Gas Australia and the Japan Organization for Metals and Energy Security.
Shares of BP decreased 1% in London.