European stocks fell on Thursday, dragged by technology firms that came under fresh selling pressure while investors assessed mixed earnings and disappointing key economic data.
Most tech stocks declined as worries over stretched valuations lingered.
DUBLIN
Euronext Dublin closed down 0.53 per cent to 12,126.73, broadly in line with its European peers.
RM Block
Permanent TSB led the bigger firms, adding 2.88 per cent to its share price as investors continue to react to the bank putting itself up for sale this past week. It reached a share price of €3.21 on Thursday.
Bank of Ireland also outperformed, gaining 1.08 per cent but AIB dragged down the sector after falling 0.18 per cent. In a strong day for the home builders, Cairn Homes and Glenveagh both rose, adding 1.08 per cent and 0.63 per cent respectively. Irish Ferries owner Irish Continental Group went against the tide to add 1.05 per cent.
Despite these gains, losses by a series of big components dragged the index into the red. Ryanair fell 0.82 per cent, while Kingspan and Kerry Group shed 1.98 per cent and 1.86 per cent each.
Healthcare services group Uniphar was the biggest laggard, falling 2.78 per cent to a share price of €3.84.
LONDON
The blue-chip FTSE 100 index was 0.42 per cent lower, retreating from a record high in the previous session, as gains in financials and metal miners were offset by a sell-off in energy and pharma.
Oil and gas companies’ shares lost ground despite a rise in oil prices, with BP ticking 0.56 per cent lower and Shell down 0.47 per cent.
Shares of Healthcare and medical equipment and services also slipped, with GSK down 0.53 per cent. Smith & Nephew plunged 10.87 per cent after it missed market expectations for quarterly revenue due to weakness in its US knee implants business.
Financials led the gainers, with HSBC, Standard Chartered and Barclays all gaining. Diageo fell 6.54 per cent after trimming its 2026 sales and profit forecast.
Retailer Sainsbury’s gained 5.52 per cent after raising its full year profit forecast above £1 billion (€1.14 billion).
EUROPE
The pan-European Stoxx 600 slipped 0.7 per cent as data showed euro zone retail sales unexpectedly fell in September, challenging expectations for a consumption-led recovery.
European technology stocks led sectoral declines, falling 1.9 per cent.
The healthcare sector rose 0.4 per cent. Novo Nordisk gained 1.9 per cent after rival Pfizer lost a legal bid to block the Danish drugmaker’s offer for Metsera, according to a source.
AstraZeneca rose 3.1 per cent after it beat expectations for third-quarter earnings. Novonesis gained 6.9 per cent after reporting stronger-than-expected organic sales growth in the third quarter.
Legrand, which makes equipment for data centres, slumped 12.2 per cent, marking its worst day since March 2020, after reporting sales growth of 11.9 per cent in the first nine months of the year, slightly below expectations, with a hit from US tariffs.
NEW YORK
Wall Street’s main indexes fell during trading on Thursday, as technology stocks came under fresh selling pressure, while U.S. tariff concerns and uncertainty around the health of the economy kept investors on edge.
Warnings of a market pullback from Wall Street executives on Tuesday had prompted a sharp sell-off in markets driven by AI-linked stocks. The information technology sector fell, with Apple, Microsoft and Nvidia down.
DoorDash bounced to the bottom of the S&P 500 after the delivery firm reported third-quarter profit below Wall Street expectations on rising expenses.
Meanwhile, the longest US Government shutdown in history has led to investors and the Federal Reserve flying blind in advance of the next rate decision and reliant on mixed private sector indicators.
Moderna gained after the vaccine maker posted a smaller-than-expected third-quarter loss.
Qualcomm dipped after the chip designer warned of a possible loss of business next year from its key customer, Samsung. – Additional reporting, Reuters, PA.
