European stock markets closed mostly lower Friday as the FTSE 100 in London declined 0.37%, Germany's DAX 40 fell 0.82%, the Stoxx Europe 600 dropped 0.24%, the Swiss Market Index retreated 0.84%, while France's CAC 40 rose 0.18%.

The euro area's seasonally adjusted gross domestic product rose 0.1% in Q4, following a 0.4% increase in Q3, according to Eurostat. On a yearly basis, the region's economy grew 0.7%.

The number of employed individuals in the euro area rose 0.1% in Q4, compared with a 0.2% increase in Q3, Eurostat data showed. On a yearly basis, employment in the region was up 0.6% in the quarter.

In corporate news, HSBC Holdings (HSBC) is set to unveil $1.5 billion in annual cost savings as part of Chief Executive Officer Georges Elhedery's restructuring efforts, the Financial Times reported, citing two people familiar with the matter.

HSBC is preparing for a new round of layoffs within its investment banking division as part of Elhedery's restructuring plans, Bloomberg News reported, citing sources familiar with the matter.

Sky News reported Thursday that NatWest Group (NWG) is facing a potential criminal case over the debanking scandal as Reform UK leader Nigel Farage is considering filing criminal proceedings.

Nvidia (NVDA) said in a regulatory filing it has reduced its holdings in British semiconductor firm Arm Holdings (ARM) by 44%.

Amazon (AMZN) and three of its executives are under investigation by Italian prosecutors over alleged tax evasion worth 1.2 billion euros ($1.26 billion), according to Italian media reports.