This is CNBC's live blog covering European markets.

European stocks were slightly lower on Friday as investors awaited the release of euro zone inflation data.

The pan-European Stoxx 600 index down 0.2% at around 8:50 a.m. London time, with most sectors and major bourses in negative territory. Telecom stocks led the losses, down 0.6%, while mining stocks rose 0.5%

France's CAC 40 index dipped 0.1% on Friday amid ongoing political turmoil. It comes shortly after the country's risk premium drew level with Greece's for the first time.

On the data front, investors will closely monitor flash euro zone inflation data for November, due to be released at 10 a.m. London time. The reading comes ahead of the European Central Bank's last meeting of the year on Dec. 12.

France's harmonized inflation rate came in at 1.7% in November, up slightly from 1.6% in October, according to preliminary data from the National Institute of Statistics and Economic Studies (Insee).

The November reading was in line with the expectations of economists surveyed by the Wall Street Journal and remains below the European Central Bank's 2% target.

Across the Atlantic, U.S. markets reopen for a shortened trading session after the Thanksgiving holiday.

Asia-Pacific markets mostly lost ground on Friday, led by losses in South Korean stocks, while strong inflation data from Tokyo boosted expectations of an imminent rate hike from the Bank of Japan.

Anglo American shares up 3%

Shares of British mining giant Anglo American rose around 3% on Friday after Jefferies raised its stock rating to buy from hold.

The firm's stock price is up nearly 25% year-to-date.

— Sam Meredith

European markets open lower

European markets opened slightly lower on Friday.

The pan-European Stoxx 600 index was 0.2% lower shortly after the opening bell, with most sectors in negative territory.

— Sam Meredith

France inflation stays below 2% in November

France's harmonized inflation rate came in at 1.7% in November, up slightly from 1.6% in October, according to preliminary data from the National Institute of Statistics and Economic Studies (Insee).

The November reading was in line with the expectations of economists surveyed by the Wall Street Journal and remains below the European Central Bank's 2% target.

The Harmonized Index of Consumer Prices (HICP) is adjusted for comparison with other euro zone countries.

Flash euro zone inflation data for November is expected later in the session.

— Sam Meredith

Britain's Aviva reportedly contacts Direct Line shareholders

British insurance firm Aviva has contacted shareholders of Direct Line, The Financial Times reported on Thursday, citing people familiar with the move. The approach could pave the way for a hostile takeover attempt.

Aviva declined to comment on the report.

It comes shortly after Direct Line dismissed Aviva's cash and share offer as "highly opportunistic" and said the proposal "substantially undervalued" the company. Aviva said it submitted an offer for its smaller rival on Nov. 19.

Shares of Direct Line soared 41% in the previous session, notching their highest level since 2023.

— Sam Meredith

CNBC Pro: 7 stocks to buy before the year-end, according to the pros

As investors prepare their portfolios for 2025, Wall Street's finest have identified several European companies they believe offer significant growth potential despite market uncertainties.

Morgan Stanley downgraded European equities to neutral earlier this year. Yet, they suggest "Europe is a stock picker's market" now since equities on the continent have begun to diverge from each other in terms of performance.

Meanwhile, investment firm Bernstein's top 10 picks outperformed the MSCI Europe Small index by 5 percentage points since the end of October.

CNBC Pro subscribers can read more here.

— Ganesh Rao

How to 'tariff-hedge' your European portfolio, according to TS Lombard

As Europe faces the prospect of tariffs on its exports to the United States, TS Lombard has advised investors in the region on how to "tariff-hedge" their portfolios.

In a note this week, Davide Oneglia, director of European and global macro at TS Lombard, advised European investors to address their "tariff risk" by looking at their exposure "in the way Donald Trump ... does, i.e. in terms of the USD value of the U.S. deficit/surplus in goods by country and sector."

He suggested three key ways investors could protect their portfolios.

Pro subscribers can read more here.

— Holly Ellyatt

European markets: Here are the opening calls

European markets are expected to open mixed on Friday.

The U.K.'s FTSE 100 index is expected to open 7 points higher at 8,285, Germany's DAX down 13 points at 19,408, France's CAC down 5 points at 7,173 and Italy's FTSE MIB down 48 points at 33,261, according to data from IG.

Market participants will closely monitor flash euro zone inflation data for November, as well as preliminary inflation readings for France and Italy.

— Sam Meredith