Major European stock markets are rising broadly ahead of Friday’s close, with the Frankfurt Stock Exchange leading the gains.
The broad European Stoxx 600 index was up 0.78 percent at 645.13 at 16:06. During the day, the index has traded in a range of 0.13 percent at its lowest and 0.85 percent at its highest.
By sector, automobiles & parts is performing best, up 1.69 percent, while media is recording the second-best performance, up 1.28 percent.
Health care is performing worst, down 0.35 percent, while real estate is recording the second-weakest performance, up 0.29 percent.
German wind power company Nordex raises its forecast for the 2026 ebitda margin to 11.5-12.5 percent, from the previous 8.0-11.0 percent, after a third quarter that exceeded market expectations. The stock climbs 11.5 percent.
French Schneider Electric, which partially competes with ABB, reports revenue that was higher than expected in the third quarter. Organic growth also exceeded analysts’ expectations. The company is simultaneously raising its full-year forecast again. However, the stock falls 0.6 percent.
Leonardo Maria Del Vecchio, heir to eyewear company Essilorluxottica, is considering selling his 12.5 percent stake in holding company Delfin to the company itself. Bloomberg News reports this, citing Italian newspaper Corriere della Sera. The stake is valued at around 5 billion euros. Essilorluxottica’s stock advances 3.1 percent.
Italian oil company Eni will drill up to six gas wells from November for the new floating LNG project Coral North off Mozambique. Production is scheduled to start in 2028 and is expected to double the company’s production in the country to around 7 million tonnes per year. Reuters reports this, citing Eni’s Africa head Mario Bello. The stock rises 0.5 percent.
UK Finance Minister John Healey is reportedly planning to raise taxes on banks in the upcoming budget. One option is to raise the banks’ special surcharge from 3 to 8 percent, in addition to the standard corporate tax rate of 25 percent. The reports caused the shares of Britain’s major banks to fall on Friday. Lloyds falls 1.4 percent, Natwest loses 1.3 percent while Barclays is unchanged.
IndexLastToday, %This year, %TimeStoxx 600645,110,77%8,94%16:05:30FTSE 10010 874,050,31%9,49%16:05:30DAX25 684,221,19%4,87%16:05:28CAC 407 971,220,46%-2,19%16:05:30Stoxx 600 sector performance:Automobiles & parts428,931,68%-18,29%16:05:30Banks400,760,61%12,79%16:05:30Basic resources806,980,57%21,14%16:05:30Chemicals1 350,310,42%21,93%16:05:30Construction & materials775,811,00%-8,52%16:05:30Oil & gas579,321,02%43,18%16:05:30Financial services947,071,20%5,30%16:05:30Food671,991,02%7,92%16:05:30Industrial goods1160,201,11%8,60%16:05:30Insurance546,530,80%7,08%16:05:30Media408,181,32%2,33%16:05:30Health care1 149,91-0,32%0,68%16:05:30Technology1 029,060,90%23,01%16:05:30Telecommunications276,201,22%7,94%16:05:30Utilities549,561,20%12,21%16:05:30Consumer goods981,180,75%-8,59%16:05:30Retail491,281,22%1,03%16:05:30Travel & leisure276,450,85%-1,44%16:05:30Real estate118,400,30%-6,28%16:05:30Source: Factset
