Why it matters
- The STOXX 600 was at about 643.74 around 12:40 GMT on Friday, up 0.56% from Thursday, and Germany's DAX was up 0.94%, Yahoo Finance data showed, as worries over AI spending and interest rates eased.
- Rheinmetall rose about 5.8% and ASML about 1.4%, while U.K. banks fell on reports of possible bank tax increases, Trading Economics said, leaving the FTSE 100 little changed.
- The STOXX 600 was on track for a weekly gain of about 1.4%, its strongest since August, Trading Economics said. Germany's 10-year Bund yield held near 3.42%.
Session recap: what happened in this region's trading day, with sources.
European stocks rose on Friday, Oct. 16, as the previous session's sell-off in technology shares faded. The STOXX 600 was at about 643.74 around 12:40 GMT, up 0.56% from Thursday's close, and Germany's DAX was up 0.94% at a more than three-week high, according to Yahoo Finance data and Trading Economics. London's FTSE 100 lagged as bank shares fell.
| Market, about 12:40 GMT | Level | Change vs. Thursday |
|---|---|---|
| STOXX Europe 600 | 643.74 | +0.56% |
| Euro STOXX 50 | 6,209.36 | +0.67% |
| DAX (Germany) | 25,622.01 | +0.94% |
| FTSE 100 (U.K.) | 10,844.44 | +0.04% |
| CAC 40 (France) | 7,959.74 | +0.32% |
| FTSE MIB (Italy) | 49,797.50 | +0.81% |
| IBEX 35 (Spain) | 19,341.60 | +0.85% |
| AEX (Netherlands) | 1,141.04 | +0.75% |
| SMI (Switzerland) | 14,334.39 | −0.11% |
Source: Yahoo Finance chart data. Levels are intraday and approximate; changes are from Thursday, Oct. 15, closes.
Why are European stocks rising today?
Concerns over AI spending in a high-interest-rate environment eased, and the tech sector rebounded after Thursday's losses, Trading Economics said. Asian markets also bounced, led by a 2.05% gain in South Korea's Kospi; see our Asia Friday recap.
ASML was up about 1.4% around 12:40 GMT, and defense group Rheinmetall about 5.8%, Yahoo Finance data showed. In Frankfurt, autos led, with BMW, Mercedes-Benz and Volkswagen each up around 2%, Trading Economics said. Commerzbank gained about 1.4% after the European Central Bank approved UniCredit's plan to raise its stake, it reported.
Some defensive names fell. Novartis lost about 1% and AstraZeneca about 1.9%. Schneider Electric slipped about 0.4% even though it raised its 2026 profit and revenue targets, Trading Economics and Yahoo Finance data showed.
Why is the FTSE 100 lagging?
Reports that Chancellor John Healey plans to raise taxes on banks in his Oct. 29 budget weighed on lenders, Trading Economics said. Lloyds was down about 1.5% and NatWest about 1.7% around 12:40 GMT, Yahoo Finance data showed. Lloyds was also hurt by an RBC Capital Markets downgrade, Trading Economics reported. Defense stocks BAE Systems and Rolls-Royce offered some support. The FTSE 100 was on track for a weekly gain of about 2.5%, it said.
In Paris, the CAC 40 was up about 0.32% after trading lower earlier in the session, when LVMH and L'Oréal led losses on renewed EU-China trade tensions, Trading Economics said.
What are bonds and the euro doing?
Germany's 10-year Bund yield was little changed at about 3.42%, near a five-week low, and France's 10-year yield traded around 4.8%, Trading Economics said. ECB President Christine Lagarde said euro-area inflation had been driven "predominantly, but not exclusively" by an energy price surge, and that the bank would watch for signs of wider effects, it reported. The U.K. 10-year gilt yield rose to 5.38%.
The euro was at about $1.124 and the pound at about $1.333 around 12:50 GMT, and Brent crude was near $105.90 a barrel, Yahoo Finance data showed.
What comes next?
U.S. import prices and the day's earnings are in our day-ahead guide. Thursday's session is in our Europe Thursday 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)
- Trading Economics, Germany 10-year bond yield, France 10-year bond yield and U.K. 10-year gilt 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, Rheinmetall, Commerzbank, AstraZeneca, Schneider Electric, Lloyds, NatWest, Brent crude, EUR/USD and GBP/USD