European stocks saw a small rise today, providing a stable close to a week that was otherwise troubled by worries about high prices for technology stocks worldwide.
The main European stock index, the STOXX 600, was up 0.2% but is still on track for its biggest two-week loss since early September. Analysts believe this week’s drop was due to several issues, including the high cost of tech stocks, the U.S. government shutdown, and tough talk from the Federal Reserve about interest rates.
In company news, ITV’s stock jumped over 18% after it confirmed talks to sell its broadcasting division to Sky (owned by Comcast) for about £1.6 billion. This news helped boost the overall media sector.
Conversely, Rightmove lost 24% after the property website predicted slower profit growth for 2026, as it plans major long-term investments, mostly in Artificial Intelligence. Finally, Italian bank Monte dei Paschi di Siena gained 4.5% after reporting a surprisingly good third-quarter profit.
On the FX front, the US dollar is set to end the week slightly higher, as investors try to weigh the Federal Reserve’s aggressive interest rate stance against ongoing worries about the US economy.
The dollar index, which tracks the dollar’s value against several other currencies, rose a small amount to 99.81 and has gained slightly over the week. Despite this recovery, the dollar is stuck in the same narrow trading range it has been in since August.
Looking at other currencies:
The euro fell slightly to 1.1535 against the dollar but performed better than the British pound and Swiss franc.
The dollar rose against the Japanese yen to 153.41, after earlier hitting its lowest level since October 30th.
The Australian dollar stayed flat, while the New Zealand dollar (kiwi) fell slightly.
Currency Power Balance