06.02.202608:38:34UTC+00European Stocks Cautious

The STOXX 50 and STOXX 600 were relatively steady on Friday after experiencing declines in the prior session. Investors are carefully considering new corporate reports and showing reticence towards technology and AI-focused sectors. Stellantis shares suffered a significant drop of almost 19% and were subsequently suspended from trading due to the automaker's announcement of a €22 billion cost linked to restructuring efforts aimed at expediting the shift to electric and hybrid vehicles. Similarly, Societe Generale saw a 3% decline as its quarterly earnings disappointed investor expectations. The mining sector faced challenges, with Rio Tinto dipping by 1.1% and Glencore decreasing 0.8% after both terminated discussions of a potential major merger. Conversely, Novo Nordisk rose over 4% following actions by the US FDA against unauthorized counterfeit medications. For the week, the STOXX 50 has fallen by 0.3%, whereas the broader STOXX 600 has seen a marginal increase of 0.1%.