16.10.202607:37:23UTC+00European Stocks Trade Higher

European stocks advanced on Friday, with the STOXX 50 up 0.6% and the STOXX 600 rising 0.3%, trading near two-week highs. Sentiment improved as worries about AI-related capital expenditure in a high-interest-rate environment eased and the tech-driven sell-off from the previous session lost momentum.

The technology sector rebounded into positive territory after Thursday’s losses, led by a 2.1% gain in ASML Holding. Investors also focused on a fresh round of corporate news. Airbus rose 0.6%, Siemens Energy climbed 1.1%, and Rheinmetall advanced 3.3%. Banks were among the strongest performers, with ING up 1.7% and Intesa Sanpaolo gaining 0.8%.

On the downside, LVMH fell 1.1%, Novartis lost 1%, and AstraZeneca declined 1.5%. Schneider Electric slipped 1.1% despite the company raising its 2026 targets for core profit and revenue.

For the week, the STOXX 50 was down 0.9%, while the STOXX 600 added 1.4%, leaving the broader index on course for its best weekly gain since August.