Steady European Shares Defy Tariff and AI Concerns
European shares maintained stability on Friday, poised for their eighth consecutive month of gains. Despite worries over tariffs and AI impacts, corporate updates, especially from HSBC, Nestle, and Capgemini, bolstered sentiment. Mining stocks led sectoral gains, while Delivery Hero faced pressure due to competitive markets.
European shares remained steady on Friday, setting the stage for an eighth consecutive month of gains amid encouraging corporate results. Despite persistent worries over tariffs and AI disruptions, investor sentiment was buoyed by promising updates from major companies.
The pan-European STOXX 600 index climbed 0.1% to 634.16 points by 0820 GMT, nearing a record high. Notably, mining stocks surged 1.7%, spearheading sectoral growth as the index heads for its longest monthly winning streak since early 2013.
February was marked by fears of AI-driven disruptions to traditional business models alongside fresh U.S. trade tariffs under President Trump. However, the improving corporate outlook in Europe, highlighted by HSBC, Nestle, and Capgemini, provided reassurance to investors. Meanwhile, Delivery Hero's shares dipped due to unmet market expectations, and the banking sector faced scrutiny over exposure to the insolvent mortgage-finance firm, Market Financial Solutions.
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