(Reuters) -European shares nudged lower on Thursday after earnings from U.S. tech giants were met with mixed reactions, reflecting concerns over growing AI-related capex spending, while investors digested
a raft of corporate earnings.
The continent-wide STOXX 600 index fell 0.2% to 574.45 points, as of 0818 GMT.
Three of the biggest U.S. tech companies flagged plans on Wednesday to accelerate capital spending over the next year. The ongoing earnings season is fuelling fresh anxiety among investors over the cost of the AI buildout.
Meanwhile, U.S. President Donald Trump said he had struck a deal to trim tariffs on China in exchange for Beijing resuming U.S. soybean purchases, keeping rare earths exports flowing and cracking down on the illicit trade of fentanyl.
However, markets await more details on the agreement.
The European tech sector rose 0.4%, while media stocks fell 1.5%.
On the monetary policy front, the U.S. Federal Reserve lowered interest rates on Wednesday, in line with market expectations. However, it signalled that might be the last cut of the year as the ongoing government shutdown threatens data availability.
In contrast, the European Central Bank is all but certain to leave interest rates unchanged for a third meeting in a row later in the day.
Among European earnings, Standard Chartered rose 3.9% after the lender posted a 3% increase in third-quarter earnings.
Credit Agricole SA fell 2.4% despite the French lender's third-quarter profit beating expectations.
(Reporting by Sukriti Gupta in Bengaluru; Editing by Sonia Cheema)
