European stock markets displayed a subdued performance as concerns over the disruptive impact of artificial intelligence on industrial software offset gains from a rebound in banking shares. Dassault Systèmes saw its stock price decline by 10%.

The Stoxx Europe 600 index closed largely unchanged. Apart from banking stocks, telecommunications and insurance sectors outperformed the broader market, while media and technology stocks led the declines. Aggregate data indicated that trading volume was 33% below the 30-day average due to the U.S. market holiday.

Dassault Systèmes was not the only company affected by anxiety surrounding artificial intelligence. Siemens experienced a 6.4% drop in its share price, while SAP SE fell by 2%.

According to the chief investment strategist at BNP Paribas Wealth Management, "Sentiment toward artificial intelligence appears to have shifted entirely, transforming from a savior angel into a lethal kiss."

The European benchmark index continued to trade below the record high set the previous week. The earnings season delivered mixed results: while overall corporate profit growth remained strong, companies that fell short of expectations faced severe declines. The frequency of mentions regarding the "disruptive impact of artificial intelligence" in management conference calls nearly doubled compared to the previous quarter, underscoring that these concerns have extended well beyond the technology sector.