{
  "id": 15082162,
  "title": "Europe: Shares close out best week since June as earnings soften blow from tech sell-off",
  "url": "https://urgent.news/2026/10/17/europe-shares-close-out-best-week-since-june-as-earnings-soften-blow",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-17T00:28:58.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/europe-shares-close-out-best-week-june-earnings-soften-blow-tech-sell"
  },
  "original_language": "en",
  "account": "European shares concluded their best week since late June, recovering from a tech sell-off. The Stoxx 600 index increased by 0.7% to 644.74 points, marking its highest level in over three weeks. Analyst Daniela Hathorn noted that diversification proved beneficial as the concentrated US technology trade faced pressure. Tech stocks declined due to concerns about increased debt reliance for AI infrastructure development and competition from China, but strong performances from ASML, Aixtron, and Ericsson boosted sentiment. LSEG forecasted third-quarter earnings for Stoxx 600 companies to grow 20.7% year-over-year, slightly lower than the previously anticipated 21% growth. Some companies, such as SAP, ABB, and Barclays, are set to release results next week. Aixtron surged 6% after surpassing third-quarter order intake estimates and confirming annual guidance. Nordex rose 12.3% following a better-than-expected third-quarter profit and an upward revision of its full-year margin forecast. Schneider Electric saw its shares drop 1.8% after raising its 2026 profit and revenue targets for the second time. Tech sector performance remained unchanged, while the healthcare sector declined 0.3% after gaining over 4.6% in the previous two sessions. Meanwhile, Nestlé increased 1.7% after receiving an \"overweight\" rating from JPMorgan. The food and beverages index rose 1.4% as a result. The eurozone's September Harmonised Index of Consumer Prices inflation reading was 3.8% year-on-year, matching economists' expectations but exceeding the European Central Bank's 2% target, indicating ongoing price pressures. The ECB raised borrowing rates by 50 basis points to 2.5% in December to address inflation driven by higher oil prices. Investors anticipate another rate hike at the December meeting, according to LSEG.",
  "summary": "There has been a sell-off in big tech names on concerns over increased reliance on debt to develop AI infrastructure",
  "key_points": [
    "European shares reached best week since June, recovering from tech sell-off",
    "Stoxx 600 index rose 0.7% to 644.74 points, highest in over three weeks",
    "ASML, Aixtron, and Ericsson's strong performances boosted sentiment"
  ],
  "editors_take": "Diversification away from concentrated US technology trades allows European markets to recover as strong earnings from specific industrial and semiconductor firms offset broader sector volatility and persistent inflationary pressures.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}