24.10.202513:26:14UTC+00European Stocks Slip After Record Highs Amid Earnings and Economic Data

European stocks experienced a slight decline on Friday afternoon after reaching record intraday highs earlier in the day. Investors were processing corporate earnings reports and economic data, alongside speculations regarding a possible easing of US-China trade tensions during the upcoming meeting between Presidents Trump and Xi. The STOXX 50 index decreased by 0.3%, landing at 5,660, while the STOXX 600 remained near 574. Throughout the week, the STOXX 50 increased by 1% and the STOXX 600 rose by 1.5%. In terms of individual companies, Sanofi's shares went up by 2.7% following a Q3 profit that surpassed expectations. Saab saw a 7% rise after adjusting its full-year organic sales forecast upward, and NatWest's stock increased by 3.3% thanks to higher Q3 profits and an improved performance target. Conversely, Vinci's shares dropped by 2.9% due to sluggish performance in its airport and motorway divisions, and Safran’s stock fell by 1.9% despite raising its targets for 2025. On the economic side, stronger-than-anticipated Eurozone PMI data supported the belief that the European Central Bank will maintain its current interest rates. Meanwhile, weaker US inflation figures prompted traders to anticipate two additional Federal Reserve rate cuts this year, with a possible third cut occurring in January.