Feb 16 - European equities nudged upward on Monday, with gains concentrated among financial companies as traders looked ahead to key corporate results and macroeconomic data due later in the week.
The STOXX 600 index was up 0.3%, trading at 619.74 points by 0810 GMT. Spain's benchmark, which has a large weighting in banks, was among the stronger performers across regional markets.
Banks and insurance companies, which had faced pressure from concerns about the disruptive potential of newer artificial intelligence tools in recent weeks, rose 1.6% and 1.0% respectively on Monday. Those sectors had been a source of volatility late in January and into early February amid investor anxiety over how emerging AI applications might affect traditional business models.
Despite those earlier worries, the STOXX 600 touched a record high last week and recorded a third consecutive week of gains following an earnings season that proved better-than-feared even in the face of steep U.S. tariffs. Market participants cited that resilience as a factor supporting equity prices.
No major company earnings were scheduled for Monday, but several notable releases are expected later in the week, including results from Orange, Zealand Pharma, Airbus and BE Semiconductor. Those reports are likely to be watched for signals about the health of corporate Europe.
On the economic front, a euro zone industrial production report due later in the day was forecast to show a year-on-year increase of 1.3% in December, down from a 2.5% rise a month earlier. Analysts and investors are monitoring the data at a time when fiscal stimulus is anticipated by some market participants to be reviving the sector.
The combination of awaited corporate disclosures and incoming macro data leaves markets focused on fresh information that could clarify growth prospects for industry and financials across the region.
What to watch this week
- Corporate earnings from a range of European-listed companies later in the week, including Orange, Zealand Pharma, Airbus and BE Semiconductor.
- Euro zone industrial production figures for December, with consensus estimates pointing to a 1.3% year-on-year increase versus 2.5% the previous month.