STOXX 50指数上涨0.3%，而STOXX 600指数周五徘徊在平稳线上，结束了欧洲股市低迷的一周。交易员们仍然保持谨慎，等待新的催化剂，关注企业动态，并为财报季的开始做准备。市场也继续关注法国的政治局势，预计马克龙总统将很快宣布新总理。汽车行业在经历了自3月以来最糟糕的一天后反弹。Stellantis在报告第三季度交付量增长13%后上涨了近2%，这主要得益于北美的强劲销售。梅赛德斯-奔驰上涨2.2%，大众汽车上涨0.9%。银行也呈绿色，包括桑坦德银行（1%）和联合信贷银行（0.6%）。另一方面，医疗保健行业面临压力，即诺和诺德（0.9%）、诺华（0.5%）和阿斯利康（0.9%）。本周，STOXX 50指数下跌0.4%，而STOXX 600指数迄今上涨0.1%。

The STOXX 50 rose 0.3%, while the STOXX 600 hovered around the flatline on Friday, wrapping up a muted week for European equities. Traders remained cautious, awaiting fresh catalysts, monitoring corporate updates, and preparing for the start of the earnings season. Markets also continued to watch the political situation in France, with President Macron expected to announce a new prime minister soon. The auto sector rebounded after having its worst day since March. Stellantis gained nearly 2% after reporting a 13% increase in Q3 deliveries, driven largely by strong sales in North America. Mercedes-Benz added 2.2%, and Volkswagen rose 0.9%. Banks were also in the green, including Banco Santander (1%) and UniCredit (0.6%). On the other hand, the healthcare sector was under pressure, namely Novo Nordisk (0.9%), Novartis (0.5%), and AstraZeneca (0.9%). For the week, the STOXX 50 is down 0.4%, while the STOXX 600 is up 0.1% so far.

欧洲股市周五开盘走低，延续了前一交易日的下跌趋势，因为全球情绪受到对人工智能相关科技股高估值和潜在泡沫的担忧的压力。投资者也密切关注法国，法国总统埃马纽埃尔·马克龙仍在寻找不到两年的第六任总理。周四，在汇丰银行宣布计划将其持有63%股权的香港部门私有化后，欧洲银行纷纷下跌，而法拉利在下调其全年和2030年的指导方针以及电动汽车销售目标后暴跌。零售和医疗保健行业的下跌进一步打压了市场情绪。在早盘交易中，欧洲斯托克50指数和斯托克600指数期货下跌约0.1%。

European markets were poised to open lower on Friday, extending the previous session’s declines as global sentiment was pressured by concerns over lofty valuations and a potential bubble in AI-linked tech stocks. Investors also kept a close watch on France, where President Emmanuel Macron is still seeking his sixth prime minister in less than two years. On Thursday, European banks retreated after HSBC announced plans to privatize its 63%-owned Hong Kong unit, while Ferrari slumped following cuts to its full-year and 2030 guidance along with reduced EV sales targets. Losses in retail and healthcare sectors further weighed on sentiment. In early trade, Euro Stoxx 50 and Stoxx 600 futures slipped about 0.1%.

欧洲股市周四从创纪录水平下跌，斯托克50指数和斯托克600指数下跌约0.4%。欧洲银行股下跌逾1%，受汇丰银行拖累。汇丰银行宣布对其持有63%股权的香港子公司恒生银行进行私有化收购后，其股价下跌4.5%。奢侈品和消费品类股也受到影响：法拉利在下调全年和2030年的指导并削减电动汽车销售目标后下跌了15%，而LVMH、爱马仕和欧莱雅分别下跌了2.6%、2.2%和1.7%。丹麦制药巨头诺和诺德股价下跌1.1%，此前该公司宣布计划以每股54美元的价格收购美国生物技术公司Akero Therapeutics，使其估值达到47亿美元，并可能额外获得每股6美元的或有价值权。今天的注意力集中在法国，因为马克龙总统承诺在塞巴斯蒂安·莱科尔努辞职后48小时内任命新总理，同时呼吁避免另一个中间派盟友。

European stocks fell from record levels on Thursday, with the Stoxx 50 and the Stoxx 600 down by about 0.4%. European banks slipped more than 1%, dragged lower by HSBC, whose shares dropped 4.5% after announcing a privatization bid for its 63%-owned Hong Kong subsidiary, Hang Seng Bank. Luxury and consumer goods stocks also suffered: Ferrari tumbled 15% after lowering full-year and 2030 guidance and cutting EV sales targets, while LVMH, Hermès, and L’Oréal fell 2.6%, 2.2%, and 1.7%, respectively. Danish pharma giant Novo Nordisk dropped 1.1% after announcing plans to acquire US biotech Akero Therapeutics for $54 per share, valuing it at $4.7 billion, with an additional potential $6 per share contingent value right. Attention today was focused on France as President Macron pledged to appoint a new prime minister within 48 hours after Sebastien Lecornu’s resignation, amid calls to avoid another centrist ally.

欧洲央行9月政策会议的账目显示，欧洲央行官员普遍认为，目前的政策立场与2%的中期通胀目标保持一致。虽然一些成员认为通胀风险倾向于下行，一些成员认为其倾向于上行，但政策制定者一致认为，目前的利率水平足以应对双边通胀风险中的潜在冲击。与此同时，与会者指出，欧元区经济仍然相对强劲，但增长疲软，面临诸多风险，官员们对地缘政治紧张局势加剧以及国防开支增加对财政政策的潜在影响表示担忧。2024年6月至2025年6月，欧洲央行将借贷成本削减了200个基点，并在通胀达到目标后于7月暂停。投资者现在预计利率在短期内保持不变，有可能在2026年底恢复紧缩。

ECB officials broadly agreed the current policy stance remains consistent with the 2% medium-term inflation target, the accounts of the ECB’s September policy meeting showed. While several members viewed inflation risks as tilted to the downside and a few saw them as tilted to the upside, policymakers agreed that the current level of interest rates is sufficiently robust to address potential shocks amid two-sided inflation risks. Meanwhile, participants noted that the euro area economy remains relatively strong, but growth is weak and faces several risks, with officials expressing concerns about rising geopolitical tensions and the potential effects of higher defense spending on fiscal policy. Between June 2024 and June 2025, the ECB cut borrowing costs by 200 bps, pausing in July after inflation reached its target. Investors now expect rates to stay unchanged in the near term, with the possibility of a return to tightening in late 2026.