European shares end best week since June as strong earnings lift sentiment The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 12, 2026. REUTERS/Staff · Reuters By Anjana Jayakrishnan Nair, Johann M Cherian and Avinash P Fri, November 13, 2026 at 12:46 PM EST 2 min read NVDA -3.26% ^STOXX +0.02% IFX.DE -4.29% AIXA.DE -4.66% SU.PA -0.55% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Nov 13 (Reuters) - European shares were little changed on Friday, but recorded their best week since late June as strong earnings and a rotation out of tech globally helped investors look past geopolitical risks and the volatility involving AI stocks.
The STOXX 600 closed flat at 664.14 points, and gained over 2% for the week. Heavyweight Euro STOXX banks index rose over 4% this week and led broader gains.
Robust earnings, along with a fall in oil prices on hopes of a potential easing of the US-Iran conflict earlier this week, helped the STOXX 600 breach record-high levels for the first time since August on Thursday.
Analysts also pointed to structural tailwinds that could boost Europe's prospects in the long term.
"Europe is building its rearmament program, its industrial program, strategic autonomy, its energy infrastructure and its defence," said Jitania Kandhari, deputy CIO, Solutions & Multi-Assets at Morgan Stanley Investment Management.
"That is trickling into different pockets of the economy and the markets now. When investment in capex picks up, it has spillover effects," she said.
Mirroring the optimism, Goldman Sachs raised its 12-month target for the STOXX 600 to 700 points from 695.
On Friday, the tech sector fell 1.3%, leading losses.
Uncertainty over the outlook for the AI trade rippled through global markets following Jensen Huang's abrupt resignation as Nvidia's CEO, as investors fretted about the future of the AI goliath that has underpinned much of the rally in global markets.
Chip stocks such as Infineon and Aixtron were down more than 4% each, while AI equipment makers such as Schneider Electric and Legrand were also lower.
Adding to caution, crude prices swung in the session as Washington's focus on blockading Iran and ramping up other economic pressures allayed fears of renewed direct conflict in the Middle East. [O/R]
Investors also weighed some corporate earnings on Friday.
Wise Group gained 7.7% to top the benchmark index after the money transfer company reported a 23% net revenue rise in the first half of its fiscal year.
In contrast, Richemont fell 3.8% after the Cartier owner reported weaker-than-expected sales in its jewellery unit during the second quarter.
Acciona fell 8%, languishing at the bottom of the index after subsidiary Acciona Energia said it would not meet its €2 billion ($2.21 billion) target for its asset rotation programme.
On the data front, the euro zone economy grew by 0.4% quarter-on-quarter in the third quarter, according to a flash gross domestic product estimate from the EU's statistics agency.
(Reporting by Anjana J Nair, Johann M Cherian and Avinash P in Bengaluru; Editing by Mrigank Dhaniwala, Jochelle Mendonca and Xevi Fontdegloria)
