FX.co ★ European Stocks Rise

European equities experienced a recovery on Friday, as evidenced by the STOXX 50 index rising 0.7% and the STOXX 600 increasing 0.4%, following an initially subdued start to the trading session. This resurgence was attributed to alleviated concerns regarding AI-related disruptions and elevated valuations, alongside investor focus on a new series of corporate updates. The uptick was largely driven by gains in the industrial and technology sectors, with ASML Holding climbing 1.3%, Siemens advancing 1.8%, and Rheinmetall soaring 4.3%. Novo Nordisk enjoyed a more than 5% increase subsequent to the US FDA's warning against illegal copycat medications. Meanwhile, Vinci saw an impressive surge of over 8% following its report of increased revenues, and Orsted increased by 1.7% after announcing a 9.8% annual revenue boost. Conversely, Stellantis experienced a sharp decline, dropping 27% after cautioning about a projected €22 billion impact due to restructuring aimed at accelerating the deployment of electric and hybrid vehicles. Societe Generale also saw a decrease, falling 3.8% as its financial results failed to meet expectations. Despite Friday's rebound, the STOXX 50 is down 0.3% for the week, while the broader STOXX 600 has managed a slight gain of 0.1%.