European shares end lower on US rate, Trump jitters
Generali gains after nine-month profit beat
Evotec jumps on 2 bln euro buyout offer from Halozyme
STOXX 600 down 0.8%
Updated at 1654 GMT
By Shashwat Chauhan
Nov 15 (Reuters) -Europen shares slipped on Friday, weighed down by disappointing earnings, concerns about the impact of U.S. President-elect Donald Trump's policies on global economies and businesses and a jump in Treasury yields.
The pan-European STOXX 600 index .STOXX dropped 0.8%, trading just above a three-month low hit earlier this week.
U.S. stocks also lost ground after Federal Reserve Chair Jerome Powell said there was no need to rush interest rate cuts, pushing up U.S. Treasury yields and pressuring equities. .N
"A week of indecision for stock markets is ending on a weaker note following Jerome Powell's unexpected dialling back of dovish rhetoric," said Chris Beauchamp, chief market analyst at online trading platform IG.
European equities came under renewed selling pressure this week as investors fretted over U.S.-China relations after Trump was expected to tap a China hawk to be his secretary of state.
European pharmaceutical companies fell on Friday after Trump picked Robert F. Kennedy Jr., an environmental activist who has spread misinformation on vaccines, to lead the Department of Health and Human Services.
Novo Nordisk NOVOb.CO fell 5.3%, while Sanofi SASY.PA shed 3.3% and GSK GSK.L lost 3.9%.
The Swiss benchmark .SSMI, which houses the bulk of European healthcare firms, declined 1.3%.
Downbeat earnings throughout the week also helped compound market losses.
The technology sub-index .SX8P dropped 2.7%, with chipmaker ASML ASML.AS among top decliners, after U.S. firm Applied Materials AMAT.O forecast first-quarter revenue below estimates, a sign of sluggish demand for the chipmaking equipment outside of AI-powered chips.
Bavarian Nordic BAVA.CO slid 17.4% after the Danish biotech firm posted a lower-than-expected core profit for the third quarter, 2025 orders below expectations.
Meanwhile, Russia's Gazprom told Austria that it is suspending gas deliveries from Saturday, a gas flow monitoring platform reported, in a development that could signal the end of the last Russian gas supplies to Europe.
Austria is one of the few European countries still dependent on Russian gas as much of the rest of the continent has reduced imports following Moscow's full-scale invasion of Ukraine in 2022.
Evotec EVTG.DE jumped 21% after Halozyme Therapeutics HALO.O said it has proposed to buy the German drug developer for about 2 billion euros ($2.11 billion).
Generali GASI.MI advanced 4.8% after Italy's top insurer beat estimates for nine-month profits despite a 930 million euro hit from natural disasters.
($1 = 0.9471 euros)
Reporting by Shashwat Chauhan and Sruthi Shankar in Bengaluru; Editing by Rashmi Aich and Elaine Hardcastle
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
