Europe's shares end week with gains; US tech names struggle

With the trading day drawing to a close in London and across Europe, the region's main equity benchmarks were ending the session in positive territory. The advance wrapped up a winning week for each of the five biggest European indices, standing in contrast to the weakness seen in the broader U.S. market.

Over the week, Britain's FTSE 100 was the strongest performer, up 3.13%. Germany's and France's benchmarks added close to 2%, and Italy's index, though trailing, also ended the week slightly higher.

On the other side of the Atlantic, the Dow was preserving its weekly advance, while the S&P 500 and the Nasdaq composite sat lower. The Nasdaq 100, with its heavier tech concentration, was suffering the steepest decline.

European markets closed the day broadly higher.

The session's closing figures were as follows:

• Germany's DAX gained 239.99 points (+0.95%) to close at 25,622.62.
• France's CAC 40 rose 21.98 points (+0.28%) to 7,956.69.
• The UK's FTSE 100 added 41.57 points (+0.38%) to settle at 10,881.91.
• Spain's Ibex 35 climbed 148.60 points (+0.77%) to 19,326.31.
• Italy's FTSE MIB advanced 459.61 points (+0.93%) to 49,857.17.

Germany and Italy set the pace on the day. Italy's strong close rescued what had otherwise been a weaker week.

For the week as a whole:

• Germany's DAX ended the week 2.13% higher.
• France's CAC 40 gained 1.97% for the week.
• The UK's FTSE 100 climbed 3.13% for the week.
• Spain's Ibex 35 was up 1.54%.
• Italy's FTSE MIB finished the week 0.22% above where it started.

Pressure remained on U.S. technology shares.

U.S. equities painted a different picture as trading in Europe wound down. The Dow was roughly flat, while losses grew as the focus turned to technology and growth stocks.

At the snapshot, the U.S. index levels were:

• The Dow Industrial Average was 1.02 points lower at 52,182.21, essentially flat.
• The S&P 500 fell 46.47 points, or 0.60%, to 7,697.59.
• The Nasdaq Composite dropped 363.14 points, or 1.36%, to 26,349.88.
• The Nasdaq 100 lost 486.97 points, or 1.63%, to 29,448.63.
• The Russell 2000 declined 29.32 points, or 1.06%, to 2,737.95.

The weekly numbers as of the snapshot showed the same split:

• The Dow was up 1.02%.
• The S&P 500 was down 1.44%.
• The Nasdaq Composite was down 3.70%.
• The Nasdaq 100 was down 4.63%.

The Dow showed resilience. The wider market has been under pressure, and tech shares have fared even worse.

European bond yields moved higher.

European stocks still managed to gain even with benchmark 10-year yields rising. France saw the largest increase:

• Germany's 10-year yield was 3.433%, up 2.4 basis points.
• France's 10-year yield was 4.816%, up 3.6 basis points.
• The UK's 10-year yield was 5.383%, up 0.9 basis point.
• Spain's 10-year yield was 4.044%, up 1.5 basis points.
• Italy's 10-year yield was 4.502%, up 0.9 basis point.

In the U.S., the Treasury curve was steepening, with the 2-year yield slightly lower and longer-dated yields higher:

• The 2-year yield was 4.7465%, down 0.45 basis point.
• The 5-year yield was 4.9113%, up 1.43 basis points.
• The 10-year yield was 5.1103%, up 2.33 basis points.
• The 30-year yield was 5.4441%, up 1.61 basis points.

With the U.S. 10-year yield above 5.10%, the rate environment remains a focus even as technology names weaken.

The dollar was mostly lower, while precious metals were little changed.

At the snapshot, the dollar was broadly weaker. The New Zealand dollar led the advancers, followed by the Australian dollar and sterling:

• EURUSD was at 1.1223, up 0.04%.
• GBPUSD was at 1.3321, up 0.36%.
• AUDUSD was at 0.6945, up 0.38%.
• NZDUSD was at 0.5648, up 0.52%.
• USDCHF was at 0.8242, down 0.30%.
• USDCAD was at 1.4159, down 0.17%.
• USDJPY was the modest exception, up 0.05% at 158.06.

Gold and silver were little moved, while copper and bitcoin gained:

• Spot gold traded near $4,169.74, down 0.02%.
• Silver traded near $57.37, down 0.01%.
• Copper futures were up 0.43%, near $6.585.
• Bitcoin was near $81,485, up 0.52%.

Summing up, Europe closed the week with gains across its major bourses. In the U.S., the Dow was steady, but the Nasdaq indices remained in sellers' grip as the week's final session played out. Sentiment has turned against AI and chip stocks, with money flowing back toward the steadier Dow and European companies.