15.10.202606:17:56UTC+00European Stocks Set for a Lower Open

European equity markets were set to open lower on Thursday as the global selloff in technology and artificial intelligence stocks intensified, while stronger-than-expected US inflation data reinforced fears of further interest rate hikes. Investors rotated into safe-haven assets, particularly government bonds, sending yields sharply lower across major markets.

In Europe, focus will center on a series of key data releases, including UK GDP, French inflation, and Eurozone industrial production. On the corporate side, Swedish telecoms group Ericsson reported stronger-than-forecast third-quarter earnings, supported by resilient demand for mobile network equipment. French spirits producer Pernod Ricard also posted a smaller-than-anticipated decline in quarterly sales, as robust growth in India helped counter ongoing weakness in the US and China. By contrast, Finland’s Nordea Bank missed earnings expectations, pressured by narrower lending margins.

In premarket trading, futures on the Euro Stoxx 50 and Stoxx 600 fell 0.9% and 0.5%, respectively.