European Stocks Finish Mixed as Tech and Banking Losses Counter Broader Gains
European stock markets closed with mixed results on Thursday, mirroring similar trading patterns seen in North America. The STOXX Europe 600 index rose 0.3% to 640, while the Euro STOXX 50 Index (STOXX:SX5E) dropped 0.4% to 6,168. Broad market performance was constrained by sharp declines in artificial intelligence infrastructure suppliers and prominent banking shares.
Technology companies came under pressure after slower revenue growth at Anthropic sparked a broader pullback across the semiconductor sector, leading ASML down 4.2% and Infineon down 5.2%. Lenders also faced selling pressure, led by Nordea, which tumbled 7.8% after a decrease in quarterly profit prompted the bank to halt its share buyback program. Additionally, Eurozone industrial output fell unexpectedly at a sharp pace in August, highlighting economic risks from high energy prices, elevated interest rates, and low-priced Chinese imports.
Despite these headwinds, gains in other sectors helped support the wider market. Shares of L'Oreal, SAP, Rheinmetall, and Wolters Kluwer all recorded increases of up to 4.5%. Investors will keep a close eye on upcoming economic indicators and potential trade policy actions in Brussels regarding import tariffs and quotas for major European industries.
Key points
- The STOXX Europe 600 rose 0.3% to 640, while the Euro STOXX 50 dropped 0.4% to 6,168 on Thursday.
- Chipmakers ASML and Infineon fell 4.2% and 5.2% following news of slower revenue growth at Anthropic.
- Nordea shares plunged 7.8% after lower quarterly profits led the bank to suspend its share buyback program.
- Eurozone industrial production fell sharply and unexpectedly in August, adding to regional economic concerns.
- Shares of L'Oreal, SAP, Rheinmetall, and Wolters Kluwer rose by up to 4.5%, tempering broader market losses.
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How we writeDisclaimerQuestions and answers
How did European stock markets perform on Thursday?
The STOXX Europe 600 rose 0.3% to 640, while the Euro STOXX 50 fell 0.4% to 6,168, leading to a mixed close across European equities.
Why did technology and banking shares fall in Europe?
Technology shares dropped after slower revenue growth at Anthropic dragged down chipmakers ASML and Infineon. Banking shares fell as Nordea dropped 7.8% after reporting lower quarterly profit and pausing its share buyback.
What economic news affected European markets?
Eurozone industrial output dropped unexpectedly and sharply in August, raising fresh concerns over energy costs, interest rates, and foreign import pressures.