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10.10.202506:05:29UTC+00European Markets Poised for Lower Open

European markets were set to open lower on Friday, continuing the decline from the previous session as global sentiment was dampened by worries about high valuations and the possibility of a bubble in AI-related tech stocks. Investors also closely monitored developments in France, where President Emmanuel Macron is still in search of his sixth prime minister in under two years. On Thursday, European banks experienced a drop after HSBC announced its intentions to privatize its 63% ownership stake in its Hong Kong unit. Additionally, Ferrari's shares fell following its announcement of cuts to its full-year and 2030 forecasts, along with lower targets for electric vehicle sales. Weakness in the retail and healthcare sectors further contributed to negative market sentiment. As trading commenced, futures for the Euro Stoxx 50 and Stoxx 600 dipped approximately 0.1%.

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