Swiss Re pops 4% after posting record $4.8 billion profit, plans $1.5 billion buyback

European markets finished Friday’s session mixed as traders parsed through several earnings reports and economic data at the end of the week.

The pan-European Stoxx 600 provisionally ended the day’s trade about 0.2% higher. Most sectors were in positive territory, but the region’s major bourses were mixed.

On Friday, among the European companies reporting earnings are BASF, Swiss Re, Holcim, IAG, and Amadeus.

Reinsurance firm Swiss Re reported a profit of $4.8 billion for 2025 on Friday, up 47% from the previous year, and the “highest level” in its history, according to CEO Andreas Berger.

The company cited “disciplined underwriting, strong investment returns, and low large loss activity outside of the first quarter” for its results. It also announced plans for a $1.5 billion share buyback scheme. Its shares closed Friday’s session 3.8% higher.

Barclays’ London-listed shares ended the day 4.5% lower following reports that the U.K. lender was exposed to the stricken mortgage provider Market Financial Solutions to the tune of £600 million ($809 million).

Santander is also said have provided financing to London-headquartered MFS, which specializes in bridge loans and buy-to-let mortgages. Santander was down 0.4%. MFS entered insolvency proceedings in a U.K. court earlier this week.

On the economic data front, Germany, France, and Spain released inflation data, with unemployment figures from Germany and France and U.K. housing prices.

In the U.K., all eyes were on the parliamentary by-election in Gorton and Denton in Greater Manchester, where the Green Party won and overturned a large majority for the governing party, Labour.

Reform UK came second, while Labour fell to third, which would be a significant setback for Prime Minister Keir Starmer.

U.S. stock futures pulled back overnight after Nvidia’s latest results failed to boost the broader market with software stocks falling, including Salesforce and Microsoft. Stateside equities were last seen in negative territory during Friday morning trade.