US stocks erased early gains to trade mixed on Friday amid mixed earnings and skepticism on whether soaring capex levels on AI will translate to the guidance pledged by tech giants. The S&P 500 was flat and the Dow was 150 points lower, while the Nasdaq 100 inched higher. Nvidia swung to the negative territory after unveiling new partnerships with South Korean firms, while Meta dropped 2% to mark a near 15% slide since unveiling its high-capex guidance for next year. Additionally, AbbVie slid 5% after unveiling the possible impact of drug pricing cuts by pressed by the Trump administration. On the other hand, Amazon surged 10% following its fastest cloud-unit growth in nearly three years. Among oil giants, Chevron added 3% after reporting better-than-expected earnings, but Exxon Mobil fell as its quarterly profit declined. The three major indices were on track to book sharp gains on October, with the Nasdaq adding nearly 4% as AI deals extended the rally for Magnificent 7 stocks.

US Stocks Erase Gains

The FTSE MIB edged down to close at 43,175 on Friday, pressured by weak results from Intesa Sanpaolo. The stock lost 2.2% after the bank reported a Q3 2025 profit of EUR 2.37 billion, virtually unchanged from a year earlier. Although profits were slightly above expectations, operating revenues fell 2.3%. Telecom Italia slipped 2.3% amid reports that Iliad Group and CK Hutchison are considering a potential merger in Italy, which would reduce the market to three major providers. The utilities sector underperformed, with Enel down 0.3%, Hera 1.9%, Terna 0.5%, and Snam 0.6%. On the upside, Prysmian rose 2% after raising its full-year 2025 guidance following strong third-quarter results, with revenue up 9.2% year-on-year, above expectations. Interpump advanced 4.3% after Equita upgraded its rating to “Buy” from “Hold,” expecting a return to positive organic growth in its third-quarter preview. UniCredit gained 1.4% after raising its stake in Greece’s Alpha Bank to about 29.5%.

FTSE MIB Slips as Intesa Sanpaolo Results Disappoint

In Frankfurt,  the DAX Index dropped 173 points or 0.72 percent on Friday. Losses were led by Allianz (-2.06%), Munich RE (-2.01%) and Hannover Rueck (-1.98%). Offsetting the fall, top gainers were Qiagen NV (1.10%), Merck (1.07%) and Commerzbank (0.96%).

The DAX Index Closes 0.72% Lower

In Paris,  the CAC 40 Index decreased 43 points or 0.53 percent on Friday. Losses were driven by AXA (-4.35%), Saint-Gobain (-3.92%) and Edenred (-3.56%). Biggest rises came from Societe Generale (3.13%), Cap Gemini (2.49%) and Renault (1.33%).

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最新ニュース

US Stocks Erase Gains

FTSE MIB Slips as Intesa Sanpaolo Results Disappoint

The DAX Index Closes 0.72% Lower

The CAC 40 Index Closes 0.53% Lower