FX.co ★ European Stocks Lack Direction

On Friday, both the STOXX 50 and the STOXX 600 hovered close to their previous levels, as traders took a moment to pause following nearly a 1% gain the day before. Investors were busy interpreting recent developments, including U.S. President Trump's stance on Greenland and new tariff measures. They were also evaluating a fresh wave of corporate earnings. Ericsson's shares jumped 12% after the company exceeded profit expectations, with Nokia and Novo Nordisk also making notable gains of 3.1% and 3%, respectively. On the downside, Babcock fell by 1.3% and Maersk by 2.8%. Additionally, BASF saw a 1.7% decline as it forecasted a profit drop for 2025. On the data front, Germany's preliminary PMIs surpassed expectations, indicating stronger growth in the private sector for the month. Conversely, France's services sector unexpectedly entered contraction. For the week, STOXX 50 decreased by 1.2%, and STOXX 600 fell by 0.9%, ending their longest streak of consecutive weekly gains since May.