European stocks mixed on Friday after volatile week; U.K. economic woes

The owner of the U.K.'s Daily Mail is nearing a $655 million deal to acquire its rival, the Daily Telegraph, marking a significant shift in the British media landscape. This acquisition process has been controversial, reflecting the competitive nature of right-wing media in the U.K.

U.K. stocks closed higher, with the Investing.com United Kingdom 100 index rising by 0.16%. This increase reflects a positive sentiment in the market, following recent trends and economic indicators.

The U.K. autumn budget will be the focal point in the upcoming week, as markets anticipate its implications. In the U.S., uncertainty surrounding the Federal Reserve's interest rate decision in December is prompting close scrutiny of economic data.

Paramount Skydance has secured the rights to broadcast the majority of Champions League matches in the U.K. and Germany, alongside holding U.S. media rights for the prestigious soccer competition. This acquisition was part of an $11.5 billion auction.

European stocks experienced their worst week since August, driven by a risk-off sentiment that affected major winners of the year. Concerns over high technology valuations and an uncertain outlook for US monetary policy contributed to this downturn.

CK Hutchison, a conglomerate based in Hong Kong, is considering a dual listing of its subsidiary AS Watson Group in both Hong Kong and the U.K. This move reflects the company's strategy to enhance its market presence and attract a broader investor base.

U.K. consumer sentiment declined in November as households began to tighten their spending ahead of the upcoming budget and the critical holiday season for retailers. This drop in confidence reflects growing economic concerns among consumers.

The uncertainty surrounding the U.K. budget is exerting downward pressure on the pound. Investors are reacting to the lack of clarity regarding fiscal policies, which is contributing to a negative sentiment in the markets. This situation raises concerns about the overall economic stability in the U.K.