European Stocks Advance After Upbeat BAE Systems, Puig Earnings
(Bloomberg) — European stocks rose following a string of positive results, including BAE Systems Plc and Puig Brands SA.
The Stoxx Europe 600 Index rose 0.5 percent at 09:16 Paris time. While mining and industrial stocks led the gains, the chemicals sector was among the laggards.
BAE Systems gained 5% after the defense firm forecast continued solid sales and earnings growth for the year following record 2025. Puig rose 6% after comparable revenue beat analyst estimates.
EssilorLuxottica SA fell as much as 3.3% after Bloomberg reported that Apple was accelerating development on new wearable devices, including smart glasses.
The region’s indicator has gained value this week as investors turned to defensive stocks due to concerns about the disruption of artificial intelligence. Overall optimism remains, with Bank of America Corp.’s latest survey finding that a net 78% of fund managers expect near-term gains for European stocks thanks to Germany’s stimulus.
“The AI fear trade is creative destruction in the making, and when one doesn’t know how it will develop, it diversifies, and that’s exactly what the market is doing,” said Nicolas Domont, a fund manager at Optigestion in Paris, which has shifted more investment into European stocks at the expense of the United States.
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