European equities began the fourth quarter on a soft note, with both the STOXX 50 and STOXX 600 declining by almost 1%. The move reflected pressure from rising global bond yields and elevated crude oil prices, extending the weakness seen in September. Most sectors traded in negative territory, led by banks, while technology stocks stood out as a rare bright spot.
Within individual names, Pandora dropped more than 4%, underperforming the broader STOXX 600, after its CEO signaled that US demand was likely to stabilize at a low level. Among financials, Credit Agricole (-2.7%), BNP Paribas (-2.6%) and Societe Generale (-2.7%) all traded sharply lower. Other heavyweight names were also under pressure, including HSBC (-2.6%), Novartis (-1.7%), Shell (-1.2%), LVMH (-1.6%) and Nestlé (-1.2%).
By contrast, the technology sector advanced, mirroring gains in global peers after Micron Technology issued an upbeat outlook. ASML Holding (+0.8%) and Infineon (+1.7%) were among the notable risers in the space.
