LIVE MARKETS-Tech drag, mixed earnings, banks up
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TECH DRAG, MIXED EARNINGS, BANKS UP
It was a quiet start for European equity markets on Thursday, with major benchmarks hovering around parity as optimism over new AI investments in the U.S. ebbed following a surge to new record highs the day before.
A cautious outlook from Korea's Hynix 000660.KS weighed on chip stocks in Europe and signs of continued U.S. pressure on exports to China made tech .SX86P the biggest sectoral decliner, down 1.3%. ASML ASML.AS dropped 4%.
Aerospace and defence .SXPARO hit an intraday record high for the fifth consecutive day before paring gains. So far in 2025 the index has risen 7.3%.
Big Luxury .STXLUXP, which has started the year in high gear with a 11% rally to date, was a touch weaker, even as China announced plans to prop up its stock market.
Earnings were mixed. Puma PUMG.DE slumped 16% and Spectris SXS.L was up 10% following results. Banks .SX7P were supported by a strong update from Sweden's biggest mortgage lender Swedbank SWEDa.ST.
The STOXX 600 .STOXX was down 0.1%.
(Danilo Masoni)
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