The broad European Stoxx 600 index was down 0.63 percent to 609.99 at 11:05 AM. During the session, the index has traded within a range of -0.64 percent at its lowest and 0.04 percent at its highest.
Sector-wise, telecommunications is performing best, up 1.91 percent, while food and beverage follows with a 1.27 percent gain.
The worst performance is seen in travel & leisure, down 2.20 percent, while banks are recording the second weakest showing, down 2.05 percent.
Shares in French beauty giant L'Oreal jumped 8.2 percent in morning trading. In Q1 2026, the company's sales exceeded consensus expectations. L'Oreal CEO Nicolas Hieronimus stated that the company is both outperforming the market and continuing to gain global market share, despite an uncertain macroeconomic environment.
In Finland, telecom equipment maker Nokia saw its shares rise by a notable 10.2 percent. Adjusted operating profit increased sharply to 281 million euros, which was 11.1 percent higher than expected. Nokia reaffirmed its full-year outlook.
French automaker Renault reported higher-than-expected revenue for Q1, sending its shares up 1.2 percent. Turnover amounted to approximately 12.53 billion euros, against a consensus of 11.57 billion. Renault confirmed its full-year guidance.
French telecom giant Orange climbed 3.6 percent after its Q1 report met market expectations. The first-quarter results confirm the company's outlook for 'stable+' EBITDAaL for the full year.
On the macro front, German services PMI came in significantly lower than expected for April. The manufacturing index was in line with consensus. Yesterday, the German government chose to lower its growth forecasts for 2026 and 2027.
Corresponding indices for the eurozone showed that manufacturing PMI was higher than expected, while services PMI fell short of forecasts.
Analysts have also been active this morning.
Oddo upgraded Carrefour to neutral from underperform. Carrefour shares fell 1.9 percent.
SEB downgraded Aker Solutions to sell from hold. The stock rose 0.4 percent.
SEB simultaneously upgraded Nokian Tyres to buy from hold. The shares rose 7 percent.
Inderes upgraded Metso to accumulate from reduce. Metso rose 2.2 percent.
| Index | Last | Today, % | YTD, % | Time |
| Stoxx 600 | 609.99 | -0.63% | 3.01% | 11:05:00 |
| FTSE 100 | 10 375.03 | -0.97% | 4.47% | 11:05:11 |
| DAX | 23 997.41 | -0.82% | -2.01% | 11:05:09 |
| CAC 40 | 8 151.16 | -0.06% | 0.02% | 11:05:08 |
| Stoxx 600 Sector Performance: | ||||
| Automobiles & Parts | 469.88 | -1.00% | -10.49% | 11:05:00 |
| Banks | 354.32 | -2.05% | -0.28% | 11:05:00 |
| Basic Resources | 799.69 | -1.16% | 20.04% | 11:05:00 |
| Chemicals | 1 219.02 | -0.44% | 10.07% | 11:05:00 |
| Construction & Materials | 856.32 | -1.03% | 0.98% | 11:05:00 |
| Oil & Gas | 544.94 | 1.09% | 34.68% | 11:05:00 |
| Financial Services | 902.17 | -1.63% | 0.31% | 11:05:00 |
| Food & Beverage | 613.73 | 1.27% | -1.43% | 11:05:00 |
| Industrial Goods | 1111.82 | -0.80% | 4.07% | 11:05:00 |
| Insurance | 506.67 | -1.30% | -0.73% | 11:05:00 |
| Media | 362.18 | -1.01% | -9.20% | 11:05:00 |
| Health Care | 1 113.08 | -0.05% | -2.54% | 11:05:00 |
| Technology | 883.26 | -1.34% | 5.58% | 11:05:00 |
| Telecommunications | 299.13 | 1.91% | 16.90% | 11:05:00 |
| Utilities | 563.02 | -0.01% | 14.96% | 11:05:00 |
| Personal & Household Goods | 929.30 | 0.45% | -13.43% | 11:05:00 |
| Retail | 460.06 | -1.02% | -5.39% | 11:05:00 |
| Travel & Leisure | 249.70 | -2.20% | -10.98% | 11:05:00 |
| Real Estate | 128.64 | -0.76% | 1.83% | 11:05:00 |
| Source: Factset |
