Live Markets: Before the bell: Europe resilient, AI plays tremble

Brunello Cucinelli SpA

11/12/2025 07:57

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BEFORE THE BELL: EUROPE RESILIENT, AI PLAYS TREMBLE

Oracle ORCL.N forecasts missing Wall Street estimates cast a cloud on the AI rally, but while that put a dampener on Wednesday's post-Fed rally on Wall Street, the fallout appeared to be mostly confined to U.S. Big Tech and the AI space.

AI-related stocks were the biggest losers in Tokyo, though losses were modest across broader European futures on Thursday. Contracts on the region-wide EuroSTOXX50 .STOXX50E index and London's FTSE .FTSE down just around 0.1%.

Shares in the U.S. cloud computing group slumped 12% in early Frankfurt trading and Nasdaq futures tumbled over 1%. AI darling Nvidia NVDA.O fell more than 2% in early Frankfurt.

German software group SAP SAPG.DE, however, which tends to track short term swings in its U.S. rival, was down just 0.5%.

Corporate news in Europe was thin. Italian luxury group Brunello Cucinelli BCU.MI, hit earlier this year by a short seller attack, raised its sales forecast, reassuring investors.

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

ORACLE BRINGS REALITY CHECK AFTER FED-INSPIRED RALLY CLICK HERE