European shares fall amid earnings wave; Barclays to cut 5,000 roles

London (UKX) -0.63%

Germany (DAX:IND) -1.00%

France (CAC:IND) -1.03%

EU passenger car registrations rose 5.7% in the first nine months of 2026, while electric vehicle registrations surged around 48% Y/Y to 1.93M, according to data released by the European Automobile Manufacturers’ Association.

The pan-European Stoxx 600 (STOXX) slipped -0.90% on Thursday as disappointing US megacap earnings reignited concerns over AI valuations and triggered a global sell-off. Investors also assessed European corporate earnings, while oil prices extended gains following renewed attacks on Saudi Arabian facilities.

“This US earnings season is a big test on AI profitability,” said Anna Wu, an investment strategist and founder of Floodlines Research, according to a media report. The post-market drops for Tesla (TSLA) and Lam Research (LRCX) “puts the AI confidence back in the air again,” she said.

Investors are turning to earnings to position themselves against the backdrop of political uncertainty and protests in France.

Elsewhere, British lender Barclays (BCS) revealed plans to cut 5,000 jobs — about 5% of its total workforce — as part of an artificial intelligence-linked efficiency push. In its third-quarter earnings statement Thursday, Barclays said it was “structurally reducing the cost base to generate capacity for investment.”

In the bond market, the U.S. bond was down 7 basis points at 5.38%.

UK's 10-year yield was down less than 1 basis point to 5.22%.

Germany's 10-year yield was down 2 basis points at 3.39%.

Currencies: (EUR:USD) (GBP:USD) (CHF:USD)

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