European stocks gain as Schneider lifts sentiment; inflation data awaited

European shares were on track for their biggest weekly ‌gain since August on Friday, as a batch of strong earnings reports and signs of stability in battered global technology stocks bolstered ‌investor sentiment.

The pan-European STOXX 600 index rose 0.3% to 641.75 points ‌by 0708 GMT, hovering near its highest level in more than two weeks. The benchmark was up more than 1% for the week. Schneider Electric rose ⁠1.4% ​after the ⁠industrial group raised its 2026 core profit and revenue targets for the second time.

Industrials ⁠gained 0.7% and were among the top gainers on the index. Robust earnings ​from European firms helped steady markets at the end of ⁠a volatile week marked by a selloff in high-flying tech names on ⁠concerns ​over Chinese competition and increased debt funding to develop AI infrastructure.

Chipmaker Aixtron advanced 4.8% after beating order intake estimates for ⁠the third quarter and confirming annual guidance. Investors will closely scrutinise eurozone HICP ⁠inflation figures, due ⁠later in the day, for clues on whether inflation pressures stemming from elevated oil prices have ‌eased.