European stocks gain as Schneider lifts sentiment; inflation data awaited

European shares are poised for their largest weekly gain since August, fueled by a series of strong earnings reports and stability in struggling tech stocks, according to Reuters. The pan-European STOXX 600 index climbed 0.3% to 641.75 points by 0708 GMT, nearing its highest level in over two weeks. The benchmark reached a 1% increase for the week.

Schneider Electric experienced a 1.4% surge following its announcement of raising its 2026 core profit and revenue targets for the second time. Industrials also gained 0.7% and were among the top gainers on the index. A robust performance from European companies helped stabilize markets towards the end of a tumultuous week, which saw a decline in high-flying tech stocks due to worries about Chinese competition and increased borrowing for AI infrastructure development.

Chipmaker Aixtron surged 4.8% after exceeding third-quarter order intake estimates and affirming annual guidance. Market participants will closely examine the upcoming eurozone HICP inflation figures, released later in the day, to gauge whether inflation pressures resulting from high oil prices are beginning to ease.