European Stock Markets Stabilized by Financial Results and Inflation Data

The last trading session of February on European markets was marked by cautious optimism. Although the American semiconductor giant, Nvidia, recorded a 5.47 percent drop in its share price during the U.S. session on February 26, which theoretically should have weakened global sentiment, markets in the Old Continent showed great resilience. Bear market in the technology sector was balanced by solid financial results from companies in the industrial, automotive, and financial sectors. In Milan, the FTSE MIB index recorded gains, supported by a positive investor reaction to publications from Stellantis, Nexi, and Eni, despite their 2025 financial reports being varied. Meanwhile, on the Spanish stock exchange, the Ibex 35 index approached the 18,500-point mark, setting new historical records. Investors worldwide closely monitored macroeconomic data, especially concerning inflation, which is crucial for the future decisions of the European Central Bank and the U.S. Federal Reserve. Meanwhile, the situation in Asia was more varied. Japan's Nikkei index once again pushed the boundaries of record levels, reflecting an unabated appetite for Japanese assets despite signals of a potential market overheating. In China, investors closely watched announcements of increased spending on IT infrastructure and the development of domestic AI technologies, intended to counterbalance trade restrictions imposed by the West. It is worth noting that while some technology companies in Asia felt pressure following Nvidia's declines, the overall sentiment remained positive thanks to expectations of fiscal stimulus in Beijing. The Polish stock exchange also attempted to recover losses from previous days. The WIG20 index, after a period of sharp correction, began to show signs of demand, although global confusion around technology company valuations still impacts the volatility of listings in Warsaw. Historically, financial markets have gone through numerous cycles of fascination with new technologies, from the railway mania in the 19th century to the dot-com bubble of 2000. The current debate over AI company valuations fits into this recurring pattern of searching for a new foundation for economic growth. Prospects for March remain moderately optimistic, although analysts warn against overconfidence. A key factor remains the yield on treasury bonds and the pace at which inflation approaches the targets set by central banks. In Europe, particular attention is drawn to mergers and acquisitions in the banking sector, as seen in the volatility of Mps or Mediobanca shares. Capital rotation, i.e., moving funds from heavily overvalued technology companies to traditional sectors such as mining or energy, seems to be the dominant trend at the end of the first quarter of 2026. The stabilization of prices after a wave of correction suggests the market is ready for consolidation, provided no new negative geopolitical signals emerge. „European shares set for eighth straight month of gains, buoyed by earnings.” — Analyst at Reuters

Perspektywy mediów: Liberal media emphasize the stability of the EU economy and successes in fighting inflation as reasons for the gains. Conservative media focus on the threats from speculative bubbles in the AI sector and the risk of a slowdown.