05.02.202613:36:37UTC+00European Stocks Extend Losses

The STOXX 50 and STOXX 600 continued to decline on Thursday, experiencing losses of 0.6% and 0.7%, respectively. This downturn was driven by a renewed global sell-off in technology stocks, fueled by ongoing concerns about disruptions linked to artificial intelligence and inflated stock valuations. Notably, ASML Holding and Siemens managed to recover some losses, decreasing by 0.5% and 0.2%, respectively. Market participants were also evaluating new corporate earnings reports alongside monetary policy announcements from the Bank of England and the European Central Bank, both of which maintained existing interest rates as anticipated. Shell's shares declined by 1% after its earnings fell short of expectations, attributed to lower crude oil prices. BBVA's share value plummeted over 6% due to unsatisfactory results, while Maersk's shares fell by 4.5% following a warning about declining earnings expected in 2026. Vestas saw its stock drop by 7.8% after posting disappointing profits, and Rheinmetall's shares decreased by 7% after the company lowered its projections. Conversely, BNP Paribas experienced a 2.7% increase in its stock price, buoyed by an upgraded outlook for shareholder returns. Additionally, ArcelorMittal's shares rose by 1% on the back of reporting quarterly profits that exceeded expectations.