European stocks end on record high; Puma shares shed 3% after Nike earnings rattle markets
Share prices in European-listed companies moved into positive territory on Friday after a soft week.
TL;DR
- The pan-European Stoxx 600 index reached a record high of 588.07 points.
- Puma and Adidas shares fell due to concerns over Nike's performance, despite Nike beating earnings estimates but showing weakness in China and facing tariff impacts.
- Ferrari shares advanced.
- Most central banks (ECB, Norges Bank, Riksbank) kept interest rates unchanged, while the Bank of England trimmed by 25 basis points.
- The ECB upgraded its eurozone economic growth forecast for 2025 and 2026.
- France faces crucial budget talks for 2026, with potential divisions among political ideologies.
- The European Union approved a 90 billion euro aid package for Ukraine.
- Key economic data from Germany, the UK, and Italy were released, with US markets monitoring existing home sales and consumer sentiment.