Key facts
- Technology stocks pressured by AI investment return concerns.
- STOXX 600 index fell 0.25% but set for monthly gain.
- Strong corporate earnings from ASML, Shell, Airbus supported sentiment.
- BP posted third-quarter net income ahead of expectations.
- Puma shares jumped 4% on quarterly earnings.
- Bayer gained 4.1% after winning a Roundup weedkiller trial.
European shares edged lower on Friday, October 30, as technology stocks faced renewed pressure due to concerns over the sustainability of AI-related spending and its returns. The pan-European STOXX 600 index fell 0.25% to 647.49 by 0809 GMT, but was still on track for weekly and monthly gains, supported by strong corporate earnings. Companies like ASML, Shell, and Airbus reinforced confidence in European corporates. BP shares rose 1.1% after exceeding third-quarter profit expectations, while Puma jumped 4% on its quarterly results. Bayer gained 4.1% after winning a trial related to its Roundup weedkiller. Investors were also awaiting third-quarter euro zone GDP figures.