European Stocks Hold Steady as Kering Shares Surge and BP Slides

European stocks were muted on mixed earnings as Kering SA posted better-than-expected results; BP Plc fell after halting share buybacks.

The Stoxx Europe 600 Index was little changed at the close. BP fell 6.1 percent after the oil giant cut its three-month, $750 million share buyback program. Kering SA rose 11% after Gucci reported sales fell less than expected in the final months of 2025.

The insurance sector recorded the biggest loss. Private online insurance shopping platform Insurify’s US peers fell on Monday as the launch of an artificial intelligence tool raised concerns about disruption in the industry. Chemicals and auto stocks performed better.

The regional benchmark has stalled after managing to outperform its U.S. peers so far this year thanks to relatively less exposure to technology. The focus is now on earnings season for clues about consumer health and the potential impact of a stronger euro.

MSCI European companies have so far reported a 1.8% increase in quarterly profits, compared with analyst estimates of 1.3%, according to data compiled by Bloomberg Intelligence.

“What strikes me is that companies are not meeting expectations, the market is not meeting expectations and not rewarding expectations as much,” said Karen Georges, fund manager at Ecofi Investissements in Paris.

In other individual stocks, Koninklijke Philips NV rose 12% after its top executive said strong demand was helping cushion the impact of tariffs. Ferrari NV rose 11% as the Italian supercar maker published new targets for 2026 that reassured investors about its ability to sustain growth and margins.

Standard Chartered Plc shares fell 5.7% after Chief Financial Officer Diego De Giorgi, one of the people leading the bank, unexpectedly resigned after nearly two years on the job.

For more information about stock markets:

Want more news about this market? Click here for First Word, a curated channel of actionable news from Bloomberg and select sources. Help can be customized to your preferences by clicking Actions on the toolbar or pressing the HELP key. Click here to subscribe to the daily list of European analyst rating changes.

This article was generated from an automated news agency feed without modifications to the text.