By Sanchayaita Roy and Twesha Dikshit<\/p>\n
(Reuters) -European shares were unchanged on Friday, as losses in heavyweight healthcare shares were countered by an advance in oil and gas stocks, closing out a busy week filled with corporate earnings from around the continent.<\/p>\n
The pan-European STOXX 600 index held steady at 547 points, clocking marginal weekly losses.<\/p>\n
Regional bourses were mixed with Germany’s benchmark DAX dropping 0.3%, while the UK’s blue-chip FTSE 100 gained 0.2%.<\/p>\n
With corporate earnings gaining steam, investors are closely examining corporate guidance to see how firms are adjusting to the shifting U.S. tariff policy, ahead of the August 1 trade deadline.<\/p>\n
“Earnings misses in Europe are being punished by more than history would suggest, pointing to greater scrutiny after a remarkable rally year-to-date,” said Laura Cooper, head of macro credit and investment strategist at Nuveen.<\/p>\n
“How corporates are navigating tariff uncertainty, potentially weaker demand, and supply chain dynamics will be in focus, though a message of past-peak tariff enthusiasm could prop up sentiment and drive greater upside.”<\/p>\n
On Friday, Swedish mining equipment maker Epiroc dropped 9.2% after its second quarter results missed market expectations.<\/p>\n
Atlas Copco also fell 7.8% after the Swedish industrial group reported second-quarter adjusted operating profit below market expectations and a decline in orders.<\/p>\n
There were bright earnings as well, with Saab jumping 16.4% after posting higher-than-expected second-quarter earnings and raising its sales outlook.<\/p>\n
Getinge added 6% after the Swedish medical equipment maker reported second-quarter core earnings above market expectations.<\/p>\n
Industrials was the best performing STOXX sub-sector this week, while automobiles was the laggard this week.<\/p>\n
On Friday, healthcare stocks were the top losers with British drugmaker GSK down 4.6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep due to concerns over side effects.<\/p>\n
Helping offset some losses, oil and gas shares added 0.6% and food and beverages advanced 0.8%.<\/p>\n
Among other moving stocks, Danish wind turbine maker Vestas jumped 15% after J.P. Morgan upgraded its rating to “overweight” from “neutral”.<\/p>\n
Iveco climbed 8.3% after a Reuters report that Italy’s Agnelli family is in talks over the possible sale of the truck maker with two mentioning Tata Motors as a potential buyer.<\/p>\n
Swedish home appliances maker Electrolux slumped 14.3% after poor second-quarter performance in Europe and India’s Reliance Industries said its retail unit acquired home appliance maker Kelvinator from Electrolux.<\/p>\n
(Reporting by Sanchayaita Roy and Twesha Dikshit in Bengaluru; Editing by Vijay Kishore, Leroy Leo and Chris Reese)<\/p>\n","protected":false},"excerpt":{"rendered":"By Sanchayaita Roy and Twesha Dikshit (Reuters) -European shares were unchanged on Friday, as losses in heavyweight healthcare…\n","protected":false},"author":2,"featured_media":272772,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[47453,2000,299,5187,103373,103375,103376,103374],"class_list":{"0":"post-272771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-corporate-earnings","9":"tag-eu","10":"tag-europe","11":"tag-european","12":"tag-european-shares","13":"tag-healthcare-stocks","14":"tag-market-expectations","15":"tag-oil-and-gas-stocks"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114875786058833523","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/272771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=272771"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/272771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/272772"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=272771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=272771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=272771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}