European Markets Steady Amid Healthcare Dips and Automobile Gains

European shares opened unchanged with bank and automobile stocks offsetting losses in healthcare. Investors focus on French politics as President Macron is set to announce a new prime minister, while particularly noting gains in Stellantis stock and a fall in Energiekontor shares.

European markets remained steady on Friday as healthcare stock losses were counterbalanced by gains in the banking and automobile sectors. As French President Emmanuel Macron prepares to announce a new prime minister, investors are closely watching political developments in France.

The pan-European STOXX 600 index remained unchanged at 571.2 points by early morning, marking a potential third consecutive weekly increase. The automobile sector saw a rise of 0.9%, with Stellantis shares leading at an increase of 1.5% after reporting a 13% rise in global vehicle shipments for the third quarter.

Meanwhile, eurozone banks saw a 0.5% rise, with both France's BNP Paribas and Germany's Commerzbank gaining nearly 1%. Conversely, the healthcare sector saw a decline of 0.5%, as AstraZeneca and Novo Nordisk posted losses. In addition, Germany's Energiekontor suffered a 13.3% drop after revising its 2025 earnings forecast.

(With inputs from agencies.)