Corporate performance currently dominates market sentiment, with second-quarter profit growth forecasts for the STOXX 600 surging to nearly 21%, according to LSEG data. This represents a significant upward revision from the 12.5% growth expected at the start of May. Deutsche Telekom led the charge, jumping 5.5% after the company raised its 2026 share buyback program by €3 billion to a total of €5 billion, helping the broader telecom sector climb 1.6%.
Nutrition provider Glanbia also saw an 8.4% gain after reporting a 7% year-on-year revenue increase, bolstering the food and beverage sector by 1%. Despite a cooling trend in global technology stocks following recent AI-fueled gains, European tech shares managed to hold steady with a 0.1% rise. Markets now await upcoming euro zone retail sales data, which will provide a clearer picture of consumer spending health as the current trading session progresses.
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