European shares end flat as markets assess earnings flurry
The pan-European STOXX 600 index (.STOXX), opens new tab held steady at 547 points, clocking marginal weekly losses.
Regional bourses were mixed with Germany's benchmark DAX (.GDAXI), opens new tab dropping 0.3%, while the UK's blue-chip FTSE 100 (.FTSE), opens new tab gained 0.2%.
With corporate earnings gaining steam, investors are closely examining corporate guidance to see how firms are adjusting to the shifting U.S. tariff policy, ahead of the August 1 trade deadline.
"Earnings misses in Europe are being punished by more than history would suggest, pointing to greater scrutiny after a remarkable rally year-to-date," said Laura Cooper, head of macro credit and investment strategist at Nuveen.
"How corporates are navigating tariff uncertainty, potentially weaker demand, and supply chain dynamics will be in focus, though a message of past-peak tariff enthusiasm could prop up sentiment and drive greater upside."
On Friday, Swedish mining equipment maker Epiroc (EPIRa.ST), opens new tab dropped 9.2% after its second quarter results missed market expectations.
Atlas Copco (ATCOa.ST), opens new tab also fell 7.8% after the Swedish industrial group reported second-quarter adjusted operating profit below market expectations and a decline in orders.
There were bright earnings as well, with Saab (SAABb.ST), opens new tab jumping 16.4% after posting higher-than-expected second-quarter earnings and raising its sales outlook.
Getinge (GETIb.ST), opens new tab added 6% after the Swedish medical equipment maker reported second-quarter core earnings above market expectations.
Industrials (.SXNP), opens new tab was the best performing STOXX sub-sector this week, while automobiles (.SXAP), opens new tab was the laggard this week.
On Friday, healthcare stocks (.SXDP), opens new tab were the top losers with British drugmaker GSK (GSK.L), opens new tab down 4.6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep due to concerns over side effects.
Helping offset some losses, oil and gas shares (.SXEP), opens new tab added 0.6% and food and beverages (.SX3P), opens new tab advanced 0.8%.
Among other moving stocks, Danish wind turbine maker Vestas (VWS.CO), opens new tab jumped 15% after J.P. Morgan upgraded its rating to "overweight" from "neutral".
Iveco (IVG.MI), opens new tab climbed 8.3% after a Reuters report that Italy's Agnelli family is in talks over the possible sale of the truck maker with two mentioning Tata Motors (TAMO.NS), opens new tab as a potential buyer.
Swedish home appliances maker Electrolux (ELUXb.ST), opens new tab slumped 14.3% after poor second-quarter performance in Europe and India's Reliance Industries (RELI.NS), opens new tab said its retail unit acquired home appliance maker Kelvinator from Electrolux.
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