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• European Markets

• Meta

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Economy & Finance

European Markets

European shares ended lower on Thursday as a continued selloff in chip stocks and the European Central Bank's (ECB) decision to keep interest rates steady affected market sentiment. The pan-European Stoxx 600 fell 0.2%, marking its fourth consecutive session of losses. The tech sector dropped 1.8%, influenced by U.S. plans for severe trade restrictions on China, impacting stocks like ASML, ASM International, and BE Semiconductor. The ECB's decision, while expected, left future rate changes open, reflecting concerns over the euro zone's economic outlook. In contrast, the automotive sector rose 1.2%, led by Volvo Cars' 11% surge following strong earnings. Notable performers included EssilorLuxottica, Publicis, and Getinge, while Nokia, ABB, and Husqvarna faced declines.

Technology

Meta

Meta Platforms is reportedly in discussions to acquire a 5% stake in EssilorLuxottica, the world's largest eyewear company and its production partner for Ray-Ban smart glasses. This potential deal, valued at approximately 4.33 billion euros ($4.73 billion) based on EssilorLuxottica's market value, could give Meta greater influence over the development of its smart glasses, a sector seeing significant investment from tech giants like Apple. Following the news, EssilorLuxottica's shares rose 3%, while Meta's shares increased by 1.2%. The Ray-Ban Meta smart glasses, launched in 2021, have been a notable part of Meta's consumer products, with the latest generation performing well in the market. Analysts are optimistic about the future iterations of the glasses, anticipating further advancements by the 2025 holiday season. Both companies declined to comment on the report.

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