FX.co ★ European Stocks Edge Lower as Tech Drags

Both the STOXX 50 and STOXX 600 indices experienced a decline of 0.2% on Thursday, continuing a three-session losing streak for the STOXX 50. The tech sector faced downward pressure following disappointing sales and profit forecasts from Oracle. This negative sentiment overshadowed the relief sparked by the Federal Reserve’s recent interest rate cut and its indication of a further reduction anticipated in 2026. Technology stocks broadly underperformed, with ASML Holding dropping by 1.2%, SAP decreasing by 2.8%, Infineon Technologies falling by 0.6%, and Dassault Systèmes slipping by 0.4%. Additionally, Ocado Group saw a decline of over 4.5%, retracting some of its previous session’s gains, while Sartorius fell by 2%. On the upside, RS Group surged 4%, leading the STOXX 600 following a rating upgrade from JPMorgan.