European markets open to close, earnings, data and news

Natwest down 7% after reporting flat third quarter results

Natwest is down 7% after reporting flat third quarter results.

The British bank reported a £1.1 billion ($1.3 billion) profit, just missing analyst forecasts.

Natwest set aside an additional £247 million to reflect the difficult economic outlook in the UK, which ate into profits.

— Hannah Ward-Glenton

We’re seeing a “mitigation of growth,” not a slowdown, says Bank of America CEO

Bank of America’s CEO Brian Moynihan said we’re seeing “a mitigation of growth” rather than a slowdown in an exclusive interview with “Squawk Box Europe.”

Watch CNBC's full interview with Bank of America CEO Brian Moynihan

Coming up: Bank of America CEO Brian Moynihan live on “Squawk Box Europe”

Bank of America CEO Brian Moynihan will give an exclusive live interview on CNBC’s “Squawk Box Europe” at 8.00 am London time.

The bank released its third-quarter earnings on Oct. 17 and stressed that the resilience of the US consumer was a reason to lower concerns for an economic recession.

You can watch the interview live on CNBC here.

— Hannah Ward-Glenton

European markets: Here are the opening calls

The FTSE 100 is expected to be down 32 points to 7,039 and Germany’s DAX 67 points lower at 13,155, according to data from IG. The CAC will be down 25 points to open at 6,226 and Italy’s MIB will be 89 points lower at 22,347.

CNBC Pro: Tech stocks are tumbling but one fund manager still loves Microsoft. Here’s why

Tech stocks have tumbled this week, as investor optimism fades following disappointing results from some of the sector’s biggest names.

But fund manager Brian Arcese is standing by Microsoftcalling it a “solid long term defensive holding.”

Pro subscribers can read more here.

— Zavier Ong

CNBC Pro: There’s a lot of pain ahead for markets, strategist warns

Investors should think twice before chasing the recent bounce in stocks, according to one strategist.

“I think the market rally is a breathing space rally,” Beat Wittmann, chairman of Switzerland’s Porta Advisors, told CNBC.

CNBC Pro subscribers can read more here.

Jennie Reid

Chip stocks fall after US official says allies could impose export limits on China soon

Bank of Japan keeps interest rates on hold as expected

Japan’s central bank left interest rates unchanged Friday, in line with predictions by economists in a Reuters poll.

The Bank of Japan also said it would purchase necessary amounts of Japanese government bonds at a fixed rate in order to keep 10-year JGB yields at 0%.

“The Bank will support financing, mainly of firms, and maintain stability in financial markets, and will not hesitate to take additional easing measures if necessary,” it said in its monetary policy statement.

— Jihye Lee

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