FX.co ★ US Stocks Lack Direction

European stocks experienced fluctuations between modest gains and losses on Friday, largely influenced by the downturn in mining and energy shares. Investor sentiment was negatively impacted following China's decision to tighten export controls on rare earths and related technologies, as well as its prohibition on unauthorized overseas mining by its citizens. Concurrently, oil prices fell given the enactment of a ceasefire in Gaza, which alleviated apprehensions about oil shipments via the Suez Canal and the Red Sea. In terms of specific stocks, Siemens Energy declined by 3.1%, ArcelorMittal fell by 2.9%, Shell decreased by 1%, and BP saw a reduction of 0.7%. The defense sector was also under strain, with Safran dropping by 1.5%, Rheinmetall by 2.3%, Renk by 2.6%, Leonardo by 4.3%, and Hensoldt by 4.7%. Conversely, Stellantis saw an increase of nearly 1% after announcing a 13% rise in deliveries for the third quarter, with Mercedes-Benz gaining 2.1%. Jyske Bank emerged as one of the leading performers, climbing 4% following an upward revision of its earnings per share forecast. For the week, the STOXX 50 has decreased by 0.4%, whereas the STOXX 600 has increased by 0.1% thus far.