European Stocks Inch Higher as Siemens Energy Hits All-Time Peak

a3r1engexnw5tk8sx(dm))xf_media_dl_1.png Citigroup, BloombergArticle content(Bloomberg) — European stocks edged higher as companies including Siemens Energy AG and Heineken NV reported upbeat earnings. Software firm Dassault Systemes SE tumbled 20% as its outlook disappointed.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe Stoxx 600 Index was up 0.1% by the close. In individual stocks, Siemens Energy jumped 8.4% to a record as surging electricity demand continues to bolster sales of its gas turbines and power-grid products. Heineken advanced 4.4% after the Dutch brewer said it would cut 5,000 to 6,000 jobs as it contends with a slump in demand for alcohol. Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentMeanwhile, software stocks including SAP SE were lower amid growing concerns that artificial intelligence would disrupt the industry. AI displacement worries have also weighed on wealth manager shares, with St James’s Place Plc dropping 13% after a sharp decline in US peers overnight. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentShares received a boost after stronger-than-expected US payrolls data. The unemployment rate also unexpectedly fell, suggesting the American labor market continued to stabilize at the start of 2026.Article content“As long as the market doesn’t reprice Fed rate cuts, this is positive for stocks,” said Francois Rimeu, senior strategist at Credit Mutuel Asset Management. “It’s really one of the best prints we’ve got for a while.”Article contentEurope’s benchmark index is inching back up to record highs as investors weigh what has been a mixed earnings season so far. More analysts have downgraded rather than upgraded profit estimates since the end of 2025, a Citigroup Inc. index shows.Article contentSectors that are deemed to be at risk from AI, such as insurance and software, have also been roiled in recent days. Barclays Plc strategists downgraded European insurers on Wednesday, saying valuations could decline another 5% to 25%.Article contentArticle content“The market at the moment is very scared of AI’s disruption,” said David Lambert, head of European equities at RBC Global Asset Management UK. “It’s kind of a ‘shoot first, ask questions later’ mantra, which is probably wrong. Ultimately, these AI tools will be used in conjunction with a lot of these firms that are getting caught up in this sort of disruptive narrative.”Article contentFor more on equity markets:Article contentInsurance Sector Has More Than AI to Fret Over: Taking StockM&A Watch Europe: TotalEnergies, KBC, Alkermes, Acorn, KojamoSaudi’s Retail Mandate May Make IPOs Less Stable: ECM WatchUS Stock Futures Rise; Teradata, Cloudflare, Diodes GainBP’s Buyback Blues: The London RushArticle contentYou want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.Article content—With assistance from Sagarika Jaisinghani and Rose Henderson.Article contentTrending Trump privately weighs quitting CUSMA trade deal he negotiated Economy BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup Innovation Garry Marr: Say no to a free lunch for your RRSP today, expect fewer menu options at retirement Retirement The problem of the Toys 'R' Us $36-million gift card mountain Retail & Marketing As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Trump privately weighs quitting CUSMA trade deal he negotiated Economy BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup Innovation Garry Marr: Say no to a free lunch for your RRSP today, expect fewer menu options at retirement Retirement The problem of the Toys 'R' Us $36-million gift card mountain Retail & Marketing As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News