Why it matters
- The STOXX 600 was at 637.68 around 12:40 GMT, little changed from Wednesday, while the Euro STOXX 50 fell 0.68% and Germany's DAX 0.29%, according to Yahoo Finance data.
- Chip stocks slid in a global tech sell-off. ASML was down about 5.1%, Infineon about 8.1% and STMicroelectronics about 7.2%, Yahoo Finance data showed, while Ericsson jumped about 9.7% after its results.
- London's FTSE 100 rose 0.82% to a four-week high after U.K. GDP unexpectedly grew 0.1% in August, Trading Economics said, and Germany's 10-year Bund yield fell to about 3.38%.
Session recap: what happened in this region's trading day, with sources.
European stocks were mixed on Thursday, Oct. 15, as a global sell-off in chip and AI-linked shares hit tech-heavy markets while London gained. The STOXX 600 was at 637.68 around 12:40 GMT, nearly flat from Wednesday's close, and the Euro STOXX 50 fell 0.68% to 6,147.97, according to Yahoo Finance data. The FTSE 100 rose 0.82%.
| Market, about 12:40 GMT | Level | Change vs. Wednesday |
|---|---|---|
| STOXX Europe 600 | 637.68 | −0.01% |
| Euro STOXX 50 | 6,147.97 | −0.68% |
| DAX (Germany) | 25,225.14 | −0.29% |
| FTSE 100 (U.K.) | 10,812.53 | +0.82% |
| CAC 40 (France) | 7,906.17 | +0.42% |
| FTSE MIB (Italy) | 49,402.01 | −0.71% |
| IBEX 35 (Spain) | 19,265.60 | +0.18% |
| AEX (Netherlands) | 1,127.75 | −0.82% |
| SMI (Switzerland) | 14,258.06 | +0.91% |
Source: Yahoo Finance chart data. Levels are intraday and approximate.
Why are European chip stocks falling today?
Investors are questioning whether heavy AI spending will pay off, and hotter U.S. inflation has raised fears of higher interest rates, Trading Economics said. The sell-off followed a 7.57% plunge in South Korea's Kospi and a 4.90% drop in Japan's Nikkei; see our Asia Thursday recap.
ASML was down about 5.1% around 12:40 GMT, a day after its results lifted the sector, Yahoo Finance data showed. Infineon fell about 8.1% and STMicroelectronics about 7.2%. Trading Economics said Schneider Electric lost 5.1%, ABB 4.6% and Siemens Energy 7.7% earlier in the session. In Milan, Prysmian dropped 7.2%, it reported.
Ericsson, Pernod Ricard and other gainers
Telecom and household goods stocks rose. Ericsson was up about 9.7% in Stockholm, Yahoo Finance data showed, after it returned to sales growth in the third quarter and beat earnings forecasts, according to Trading Economics. Pernod Ricard added 3.4% after a smaller-than-expected 0.9% drop in first-quarter sales, and Deutsche Telekom rose more than 3%, Trading Economics said.
Why is the FTSE 100 rising?
London gained on stronger-than-expected growth data and its small weighting in tech stocks. U.K. GDP grew 0.1% in August, beating forecasts for a 0.1% contraction, Trading Economics said. Unilever rose 1.5% and British American Tobacco 2.8%, while miners fell: Antofagasta dropped more than 6% after a copper output miss, and Anglo American lost 5%, it reported.
What are bonds, oil and the euro doing?
Bonds rallied as investors sought safety. Germany's 10-year Bund yield fell 8 basis points to 3.38%, a five-week low, and France's 10-year yield eased to 4.76%, Trading Economics said. ECB President Christine Lagarde said energy-driven inflation had yet to spread across the wider economy, while policymaker Gediminas Šimkus said further hikes could be needed, it reported.
Brent crude was down about 1.5% at $104.52 a barrel around 12:45 GMT, and the euro was at about $1.121 around 12:55 GMT, Yahoo Finance data showed.
What comes next?
U.S. producer prices and retail sales are in our day-ahead guide. Wednesday's session is in our Europe Wednesday recap, and live levels are on the markets page.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Trading Economics, Euro area stock market
- Trading Economics, Germany stock market (DAX)
- Trading Economics, U.K. stock market (FTSE 100)
- Trading Economics, France stock market (CAC 40) and Italy stock market (FTSE MIB)
- Trading Economics, Germany 10-year bond yield and France 10-year bond yield
- Yahoo Finance, chart data for the STOXX Europe 600, Euro STOXX 50, DAX, FTSE 100, CAC 40, FTSE MIB, IBEX 35, AEX, SMI, ASML, Infineon, STMicroelectronics, Ericsson, Brent crude and EUR/USD