Money and business

The automobile sector records the worst performance… European stock indices fall


Retracted on Thursday, affected by sharp losses in the shares of HSBC Bank and Ferrari, which led to a decline in 600 increased by (0.4%), moving away from its record level recorded in the previous session.

Ferrari shares recorded the worst One day ever and closed at its lowest levels since April, after the company announced disappointing financial goals that overshadowed investors’ enthusiasm for launching its first electric car.

European stocks

Michelin shares also fell by (3.8%) after it expected a decline in sales volume in the third quarter compared to last year, with the automotive sector recording its worst daily performance since March.

In the financial sector, HSBC shares fell by (5.4%) after announcing a plan to acquire the minority shareholders’ stake in Hang Seng Bank for ($13.6 billion), amid concerns about the timing and terms of the deal.

Developments in France

Investors followed the political developments in France with caution, as President Emmanuel Macron is considering… About the sixth prime minister in less than two years after the resignation of Sebastian Lecorno and his government, which increased uncertainty about passing the budget in Parliament.

Thus, the regional leading index closed lower (0.2%), remaining one of the declining European indicators in 2025 despite its overall rise by about (9.2%) since the beginning of the year.

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