European Stocks Close Mostly Lower; UK GDP Stagnant in January

12:14 PM EDT, 03/13/2026 (MT Newswires) -- European stock markets closed mostly lower in Friday trading as the Stoxx Europe was down 0.3%, Germany's DAX fell 0.4%, the FTSE 100 declined 0.3%, France's CAC lost 0.6%, and the Swiss Market Index edged up 0.1%.

In the UK, monthly real GDP was stagnant in January, after rising 0.1% in December, according to the Office for National Statistics. Services output had no growth, while production declined 0.1% and construction grew 0.2% for the month.

In corporate news, HSBC and Standard Chartered are set to become the first licensed stablecoin issuers in Hong Kong, Bloomberg reported Friday, citing people familiar with the matter.

The two banks will be in the first batch of approvals as the Hong Kong Monetary Authority prioritizes institutions already authorized to issue banknotes, the people said, according to the report. Hong Kong's de facto central bank said last month that the first stablecoin licenses could be issued as soon as March and that it had received 36 applications, Bloomberg reported.

The Hong Kong Monetary Authority, HSBC and Standard Chartered did not immediately respond to MT Newswires' request for comment.

Shares of HSBC and Standard Chartered were down 1.1% and 2.4% respectively in London.

GSK said Friday the US Food and Drug Administration has expanded the approved age indication of its Arexvy vaccine to include adults 18 to 49 years old who are at increased risk of lower respiratory tract disease caused by respiratory syncytial virus, or RSV.

The company said the expanded approval was supported by phase 3b trial data showing the vaccine generated an immune response comparable to that seen in adults 60 years and older.

Shares of the British pharmaceutical company was up 0.4% in London

Volkswagen and XPeng have started mass production of their jointly developed ID.UNYX 08 all-electric sports utility vehicle for the Chinese market at the Hefei plant in eastern China, Volkswagen said Friday.

The two companies plan to launch 20 models in the country in 2026, with a market launch targeted within H1, Volkswagen said.

Shares of Volkswagen were down 2.4% on the DAX.

Rio Tinto is slowing construction of the Nemaska Lithium processing plant in Quebec weeks after taking majority control of the project, Bloomberg News reported Friday, citing people familiar with the matter.

Several contractors will halt work in the coming weeks due to rising costs, leaving only a minimal workforce on site, with construction expected to fully restart in 2027. The company is also assessing whether its Galaxy hard-rock lithium development or Nemaska's Whabouchi mine has greater potential ahead of a decision expected in H1, according to the report.

Rio Tinto did not immediately respond to MT Newswires' request for comment.

Shares of the mining company were down close to 2% in London.

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