European stock markets closed with moderate gains, in a session marked by the recovery of companies linked to artificial intelligence (AI) after the sharp declines of the previous week. The Stoxx 600 rose by 0.7%.
Energy and technology showed the best sector performance, with increases around 2%. In contrast, consumer was among the lagging sectors. Among companies, Siemens Energy managed to rise more than 7% after reporting record results and improving its profitability outlook.
By indices, the Euro Stoxx 50 gained 1%, while the Ibex 35 rose by 0.46% and surpassed 20,000 points.
The recovery of technology stocks was driven by the results of CoreWeave, which anticipated achieving adjusted profitability during the first half of 2028. The company helped to moderate doubts about the sector's ability to monetise the high investments in data centres, following the significant corrections of recent sessions. However, the financing of these investments and the potential tightening of regulations remain risk factors.
In Germany, the final reading of October's CPI confirmed a moderation of overall inflation to 2.8% year-on-year, down from 3.3% in September. In contrast, US inflation published on Tuesday exceeded expectations, with a monthly increase of 0.4%, reinforcing the possibility of another interest rate hike by the Federal Reserve in December. This divergence maintained pressure on US monetary expectations and favoured the strengthening of the dollar.
At the European close, the S&P 500 was up 1.2% and the Nasdaq by 2%, while the Dow Jones remained virtually flat.
European sovereign yields recorded moderate movements following Tuesday's rise. The moderation of German inflation partially offset the pressure associated with US price data, while the new rise in oil kept attention on inflation expectations. In the United States, the bond market remained closed due to Veterans Day holiday.
The 10-year German Bund yield stood at 3.32%, flat compared to Tuesday. Meanwhile, the yield on the 10-year US Treasury was 4.99% at Tuesday's close, after rising 10 basis points in that session.
Brent rose by 2.6%, to $93.9 per barrel, following declines recorded at the beginning of the week. New attacks on commercial vessels in the Strait of Hormuz revived concerns about crude transport, although expectations of diplomatic talks with Iran continued to limit the price increase.
The euro lost ground against the dollar. The EUR/USD fell by 0.6%, to stand at $1.109 per euro.
