European shares slip as AI-disruption worries, mixed earnings weigh

Reuters
02/13
European shares slip as AI-disruption worries, mixed earnings weigh 

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Feb 13 (Reuters) - European shares slipped on Friday, tracking a sombre global mood as uncertainties about artificial intelligence-related disruptions persisted, while investors also assessed mixed corporate earnings from companies such as Safran and L'Oreal.

The pan-European STOXX 600 index .STOXX was down 0.3% at 616.58 points, as of 0821 GMT, and is now on track to end the week flat.

This week was marked by patches of volatility for global investors as they tried to weigh the impact that newer AI models could have on the traditional businesses of logistics companies, insurers, software companies, and asset managers.

Further, disappointing gross margins from U.S.-based Cisco Systems < CSCO.O > also added to jitters.

L'Oreal slipped 6.6% after the owner of Maybelline make-up and Kerastase shampoo's fourth-quarter sales growth missed estimates. The broader personal and household goods sector .SXQP fell 1.2% and led sectoral declines.

Delivery Hero <DHER.DE> slid 8.7% after the food-delivery company's Middle East unit posted mixed results, a European trader said.

On the flip side, Safran SAF.PA jumped 7% after the French aerospace group forecast increased revenue and earnings for 2026.

(Reporting by Avinash P and Johann M Cherian in Bengaluru; Editing by Rashmi Aich)

((Avinash.P@thomsonreuters.com;))

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