European stocks rise as bank, tech shares gain despite Nasdaq 100 futures drop amid Nvidia probe

Published Mon, Nov 9, 2026 · 10:00 PM

[JOHANNESBURG] European stocks rose, led by banks after better-than-expected earnings for Italy’s UniCredit and a merger proposal for Banco BPM.

The Stoxx Europe 600 Index gained 0.4 per cent at 8.25 am in London.

UniCredit jumped 4.5 per cent, while Banco BPM rallied 9.4 per cent after Credit Agricole proposed a merger with its Italian operations.

European tech stocks rose even as futures on the Nasdaq 100 Index fell, weighed down Nvidia’s board investigation of whether chief executive officer Jensen Huang was targeted in an espionage plot.

“With hardly any news on the macro or earnings front today, we expect Europe to wait for the US market to open before it finds direction,” said startegist Joachim Klement of Panmure Liberum.

“For the rest of the week, tech stocks will remain the key driver of stock markets across Europe.”

SEE ALSO

THE BUSINESS TIMES INSIGHTS

Powering Asean’s Future 2026

Find out how enterprises are navigating power constraints and sustainability targets

Brent crude dropped to US$96.33 a barrel, after its biggest weekly drop since April 2020, as US Secretary of State Marco Rubio played down a breakthrough with Iran.

US President Donald Trump said further strikes are highly unlikely if talks progress and Houthi missiles damaged Saudi Aramco’s offices in Riyadh on Sunday. 

Strategists at Citigroup downgraded US equities and global tech while upgrading Europe, saying crowded positioning, slowing earnings growth and uncertainty around artificial intelligence spending leave markets vulnerable to further near-term volatility. BLOOMBERG