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European stocks closed lower on Thursday as rising bond yields, geopolitical uncertainty in the Middle East and concerns surrounding artificial intelligence weighed on investor sentiment.
The pan-European STOXX 600 dropped 0.6%, while Germany’s DAX declined 0.6% and France’s CAC 40 lost 0.5%. Britain’s FTSE 100 slipped 0.2%.
French equities weakened despite Christian Dior shares surging more than 15% after the Arnault family announced plans to consolidate the luxury group within its holding structure and make a cash offer for the minority stake it does not already own.
In London, Raspberry Pi Holdings jumped more than 13% after reporting record first-half revenue and profitability. The company also said full-year EBITDA is expected to exceed market expectations. ASOS gained more than 11% after the online fashion retailer forecast adjusted EBITDA above the midpoint of its £150 million to £180 million guidance range.
Broader market sentiment deteriorated as hopes for an immediate diplomatic breakthrough between the United States and Iran faded. Officials remained divided over the terms of a formal peace agreement and reopening the Strait of Hormuz, renewing concerns about energy supplies and geopolitical risk.
Technology stocks also faced pressure after industry leaders warned about near-term risks surrounding AI deployment, monetization and regulation.
Investors were additionally cautious ahead of talks between U.S. President Donald Trump and Chinese President Xi Jinping in Washington, with trade, tariffs, rare earth minerals and technology export rules expected to feature prominently.
Bond markets added another source of pressure. U.S. Treasury yields climbed to multi-year highs as traders increased expectations for further monetary tightening. CME FedWatch data showed markets pricing a 70% probability of another Federal Reserve rate hike next month, up from 50%.
French government bonds remained under scrutiny as political gridlock complicated efforts to address the country’s fiscal challenges. Credit default swap costs on French sovereign debt have risen to multi-year highs.
Elsewhere, Energa shares soared 37% after majority shareholder ORLEN offered to acquire remaining minority shares for PLN 27.60 each.
