European stock markets opened lower on Thursday, failing to sustain the momentum from a broad rally in Asian markets, which had been buoyed by a rebound on Wall Street. Despite positive economic updates and a steady stream of quarterly earnings reports from U.S. companies, concerns over surging valuations of Big Tech firms weighed on investor sentiment. Germany’s DAX dropped 0.2% to 24,003.24, while France’s CAC 40 fell 0.5% to 8,033.11. The UK’s FTSE 100 also slipped 0.2% to 9,761.18. Futures for the S&P 500 remained flat, while the Dow Jones Industrial Average futures edged down 0.1%. In contrast, Asian markets saw a strong recovery. Tokyo’s Nikkei 225 surged 1.3% to 50,883.68, and Hong Kong’s Hang Seng jumped 2.1% to 26,485.90. However, Nissan Motor Co. faced a 1.7% decline after announcing the sale of its Yokohama headquarters to raise cash, coupled with a reported loss of 221.9 billion yen ($1.4 billion) for April-September. South Korea’s Kospi rose 0.6%, and Taiwan’s Taiex gained 0.7%. Meanwhile, autonomous driving companies Pony.ai and WeRide saw their shares plummet by 9.3% and 10%, respectively, in their Hong Kong stock exchange debut. Cathay Pacific Airways, however, gained 4% following Qatar Airways’ decision to sell its 9.57% stake in the Hong Kong-based carrier. In the U.S., Wall Street had reversed its prior day’s dip on Wednesday, driven by gains in the technology sector. Alphabet, Broadcom, and Meta Platforms led the charge, offsetting losses from Nvidia and Microsoft. The S&P 500 rose 0.4%, the Dow industrials gained 0.5%, and the Nasdaq composite added 0.6%. Investors continued to focus on corporate earnings and forecasts, which provided critical insights into consumer behavior and economic trends amid a government shutdown that has halted key economic data releases. A weaker job market remains a concern for the Federal Reserve, which recently cut its benchmark rate for the second time this year to stimulate economic growth. In early Thursday trading, U.S. benchmark crude oil rose 26 cents to $59.86 per barrel, while Brent crude advanced 25 cents to $63.77. The U.S. dollar weakened against the Japanese yen, and the euro strengthened slightly against the dollar.
World shares are mixed after upbeat economic updates and earnings reports boost Wall St
