For the most part gains on the day were kept in-check with Sweden though better by a percent.   Basic Resources and Tech held the top two spots for gainers, finishing 1.935 and 1.16% better.  The skew of sectors higher to lower was roughly 2 to 1 as volume was ~13% lower on the day. For the week the German Dax finished better by 1.4% with the FTSE 100 down .8%.  The French CAC40 rose 1.22% with Switzerland up 1.16%.

Autos closed mixed in the auto sector on concerns President Trump could levy tariffs on the space.  Headlines noted the EU will hit back if the President enacts the Commerce Departments suggestions for a 25% tariff. Daimler +.2%, BMW -flat, VW +.1%.  Volkswagen reported inline FY18 revenues with op profit also as expected.  The company sees FY19 adj op margin at 6.5-7.5% vs the 7.3% seen in 2018.  The company though lost a court case whereas they were trying to assert that the software used to cheat emission tests in Europe was indeed legal.  The court said no potentially putting the company on the hook to compensate customers like they did in the States.

SocGen finished up 1.4% post headlines they may cut thousands of positions at their investment bank.

Gamma-knife creator Elekta fell 13% despite better 3Q sales.  FY revs were revised higher but ebitda margins expectations are seen up 18% vs the 20% growth seen.

From our morning note: AB Inbev -3.6%, Reckitts -1.5%, Unilever -1.4%, Danone -.5%, Nestle -.9%, ASML +1.6%, and Dairy Crest +15%.

Economic releases are nil over the weekend.