European equities extend weekly gains amid AI-driven tech strength, while Puig shares fall following failed takeover discussions.
The Stoxx 600 index climbed 0.6%, marking its fourth straight session of gains and a 2.25% weekly rise. The advance was led by technology and AI-related stocks, reflecting investor focus on innovation and long-term growth themes despite mixed economic data across Europe.
Shares of Puig plunged after the Spanish fragrance company ended talks with Estée Lauder over a potential deal. The broader market rally contrasted with weakness in Puig, as sectors like defense and energy security also contributed to the upward momentum.
Government bond yields edged lower, with the US 10-year yield at 4.56%, the UK 10-year at 4.91%, and Germany’s 10-year at 3.05%, signaling cautious sentiment among fixed-income investors.