European equities traded mixed on Friday, a day after closing at a seven-week high driven by robust corporate earnings and steady interest-rate decisions from the Federal Reserve and the European Central Bank.
Technology shares faced selling pressure as Alphabet’s heavy cash burn last quarter, Amazon’s signal of elevated capital spending for next year, and Intel’s warning of a weakening PC market weighed on investor sentiment.
Rising oil prices and unexpectedly weak French GDP figures added to caution ahead of the third-quarter Eurozone GDP release later in the session.
Preliminary data from statistical office INSEE showed the French economy contracted in the third quarter due to subdued investment and exports. Gross domestic product declined 0.1 percent sequentially after remaining flat in the second quarter, missing economist forecasts for 0.1 percent growth. In contrast, German preliminary Q3 GDP came in at 0.2 percent, surpassing expectations.
The pan-European STOXX 600 edged lower to 648.52, paring some of Thursday’s 0.8 percent advance.
Germany’s DAX slipped 0.1 percent, while France’s CAC 40 gained 0.2 percent and the U.K.’s FTSE 100 rose 0.4 percent.
Concerns over artificial intelligence spending dragged on technology shares, with Aixtron, Infineon Technologies, and ST Microelectronics each falling between 3 and 4 percent.
British pharmaceutical company AstraZeneca rallied 2.8 percent after third-quarter profit exceeded expectations.
Oil major BP climbed about 1 percent following a record quarterly profit surge.
France’s Sanofi jumped 5.5 percent after reporting stronger-than-expected third-quarter earnings and raising its full-year 2026 outlook.
Lender Credit Agricole declined 2.2 percent despite posting higher third-quarter profit.
IT consulting firm Capgemini advanced 1.6 percent after upgrading its 2026 financial targets on the back of a 12 percent rise in third-quarter revenue.
Reinsurer SCOR gained 4 percent following higher-than-expected third-quarter net income.
German sportswear maker Puma soared 6 percent after third-quarter gross margins improved.
