European stock markets closed mixed, in a session initially supported by corporate earnings and the region's lower exposure to artificial intelligence companies. The Stoxx 600 rose by 0.1% after reaching a new intraday high. However, buying momentum weakened as pressure increased on technology stocks and US Treasury yields rose.
Health and utilities showed better performance during the session, while technology was the most lagging sector. Among companies, Siemens rose by up to 5% after reporting record quarterly orders and raising its growth targets.
By indices, the Euro Stoxx 50 rose by 0.1%, while the Ibex 35 fell by 0.3%. On the other hand, the DAX and the CAC 40 had gains exceeding 0.3%.
The main focus of the day was the resignation of Jensen Huang as CEO of Nvidia, confirmed by the company itself, which appointed its financial officer, Colette Kress, as interim CEO. The news increased uncertainty regarding the strategy and continuity of execution of the largest AI chip manufacturer, whose stock price experienced significant drops. The pressure extended to other semiconductor manufacturers and data centre companies, widening the divergence with European defensive sectors.
In the UK, GDP grew by 0.7% quarter-on-quarter in the third quarter of 2026, compared to 0.5% in the second quarter, according to the first official estimate. Services advanced by 0.9%, while construction fell by 0.7%. The resilience of activity kept expectations open for a new monetary tightening by the Bank of England, in a context still conditioned by energy inflation.
At the European close, the S&P 500 was up by 0.1%, the Dow Jones by 0.3%, and the Nasdaq by 0.1%.
US sovereign yields rose again after the market reopened following Wednesday's holiday. The inflation data for October, higher than expectations, maintained forecasts for further rate hikes by the Fed. The recovery of oil during the session added pressure on long-term debt, while in Europe, British growth reinforced monetary caution.
The 10-year German Bund yield stood at 3.34%, with an increase of 3 basis points. In the United States, the yield on the 10-year US Treasury rose by 10 basis points, to 5.10%, based on the last trading session on Tuesday.
Brent rose by 1.1%, to 93.8 dollars per barrel, after starting the session in negative territory. Crude regained ground when Donald Trump stated that the United States did not need to reach an agreement with Iran, reducing expectations for immediate diplomatic progress. Uncertainty over the Strait of Hormuz continued to affect prices, despite the partial recovery of regional supplies.
The euro showed little change against the dollar. The EUR/USD stood at 1.106 dollars per euro, down 0.3% during the session, close to its recent lows.
