European stocks logged a second straight dip as lackluster earnings met worries around the artificial intelligence trade and firmer oil prices. The Stoxx Europe 600 has stalled in recent weeks and sits about 4% below its August peak, with sentiment also dented by a bond selloff in France and stubbornly high crude.
Industrials and luxury names led declines, while energy stocks climbed with Brent as attacks on Saudi Arabia intensified.
Volvo Car AB sank as much as 32% after a third quarter loss. Chief executive Håkan Samuelsson said the market for Western developed cars in China is disappearing fast, and the automaker plans to lift job cuts to around 6% of its workforce. At Kering, Gucci's sales missed expectations in the quarter as China's slowdown set back a turnaround effort, sending the stock down 17.4%.
There were offsets. L'Oreal rose 5.6% after sales topped forecasts on strong demand for premium skincare and hair products sold through salons. Holcim gained as much as 6.8% after lifting its full-year outlook for a second time this year.
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Earnings are doing the sorting. Energy benefited from higher oil, while China exposed luxury and industrial names took a hit, leaving the broader index modestly lower. The bottom line: keep an eye on sectors tied to China's growth and to oil, and watch telecoms as SpaceX's network push ripples through carrier and infrastructure valuations.
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