European stocks close lower after euro zone PMIs disappoint; Adyen down 3.7%

European stocks closed lower Friday as investors focused on disappointing economic data out of the euro zone and geopolitical tensions.

The pan-European Stoxx 600 finished the session marginally lower by 0.15%, as most sectors and major bourses sank despite starting the session in positive territory.

In corporate news in Europe, Bayer announced Thursday that it would pay $1.6 billion to settle a majority of claims in the U.S. relating to its birth control device, while a U.S. judge dismissed parts of a lawsuit by the Securities and Exchange Commission alleging that Volkswagen defrauded U.S. investors during its highly-publicized diesel emissions saga.

In terms of individual share price action, Denmark’s Netcompany climbed 9% after Deutsche Bank raised its target price for the stock.

At the other end of the European blue chip index, Dutch payment company Adyen dropped 3.7% after several top executives sold their 15% stakes.