[MARKET ANALYSIS] European bourses gain on lower energy prices; IFX GY jumps post-earnings

Newsquawk Staff · 10 Nov 2026, 09:58 UTC

European bourses (STOXX 600 +0.5%) are firmer across the board, benefiting from the pressure across the energy space with negotiations ongoing on both the Russia-Ukraine and US-Iran fronts. As it stands, major indices are stronger by 0.2%-1.3%; the FTSE MIB outperforms.
European sectors hold a strong positive bias. Banks sit at the top of the pile, joined closely by Construction and then Industrials. Unsurprisingly, Energy lags given the pressure seen in underlying oil prices.
As for key movers this morning: Infineon (+4.3%) gained following decent headline metrics, and FY27 outlook impressed, amidst growing AI demand. Sticking with earnings, Vodafone (-1.8%) slips despite lifting outlook, but adj. earnings did fall. Elsewhere, BT (-0.7%) opted to pause its tie-up with SpaceX’s Starlink, amidst the recent Ukraine controversy. Finally, Ferrexpo (-5.5%) shares tumbled after temporarily halting production in Ukraine.
US equity futures are mixed and trade on either side of the unchanged mark. Earlier, contracts moved a touch off best levels following hawkish remarks from the Fed’s Waller. He mentioned that further tightening is needed, and shared his openness to a larger 50bps rate hike if Oct core CPI (M/M) printed at 0.3% or above. The report is set to be published today, where consensus for the core is at 0.2%.

What our morning note said

EU Market Open, 10 Nov, 06:50 UTC · what it led with

US President Trump said he had an excellent conversation with Qatar's PM and that US military action against Iran seems unlikely at this point; reports suggest a Qatari-Pakistani proposal has revived US-Iran negotiations.
APAC stocks traded higher as the tech rebound continued following Wall St's broad rally; European equity futures point to a positive open.

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Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
ECB policymakers see a December rate hike followed by a pause; New ECB staff estimates show the rise in bond yields cutting growth by a cumulative 100bps and inflation by 90bps in 2027-28 vs the September baseline, according to reports, citing sources.
EUR/USD−0.1%
ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
EUR/USD+0.1%

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