European Stocks Slip as Stellantis Sinks, Tech and Autos Drag Weekly Performance

European shares moved lower on Friday, heading toward a muted close to a volatile week marked by investor caution toward technology stocks and a string of disappointing corporate earnings, with automaker Stellantis delivering the latest shock.

The pan-European STOXX 600 fell 0.2% to 610.28 points by 08:09 GMT.

Stellantis shares plunged 14.4% and briefly triggered a trading halt after the Franco-Italian carmaker reported charges of around €22.2 billion in the second half of last year, tied largely to scaling back its electric-vehicle development plans. The sharp selloff weighed heavily on the broader auto sector, which slid 2.4% to lead declines across European markets.

Technology stocks also remained under pressure, down 1% on the day and on track for their steepest weekly drop since late March 2025. Sentiment in the sector has deteriorated amid concerns that newer artificial intelligence tools could disrupt established software business models, compounded by unease after Amazon unveiled plans to lift spending by 50%.

Losses elsewhere were partly offset by strength in selected names. Societe Generale jumped 6.3% after the French bank raised a key profitability target for 2026 and reported better-than-expected fourth-quarter earnings.

Novo Nordisk advanced 4.2% after the U.S. Food and Drug Administration warned it could take action against so-called “illegal copycat” weight-loss drugs, a development seen as supportive for the Danish drugmaker’s blockbuster treatments.

Despite Friday’s mixed moves, European equities were set to end the week on a cautious note, reflecting lingering uncertainty around earnings momentum, technology valuations, and shifting corporate investment priorities.