Key Notes
- The Stoxx Europe 600 rose 0.7% to 662.83 at 08:07 UTC on November 11, close to its August peaks.
- Siemens Energy gained 6.5% as its earnings release set out higher margins and a proposed dividend increase.
- Technology shares advanced while renewed oil and interest-rate concerns limited risk appetite.
European stocks pushed toward record highs on Wednesday as stronger corporate forecasts brought buyers back to shares tied to artificial intelligence and the power infrastructure behind it.
The Stoxx Europe 600 rose 0.7% to 662.83 at 08:07 UTC on November 11, trading close to its August peaks, Reuters reported.
Siemens Energy Leads the Advance
Siemens Energy (Xetra: ENR) gained 6.5% in early trading. The energy-equipment group forecast a profit margin before special items of 14%-16% for fiscal 2027, up from 12.4% in the year just ended.
Its results also included a proposed €2.30-a-share dividend, compared with €0.70 a year earlier, and plans for up to €9 billion in additional buybacks through fiscal 2030.
Siemens Energy expects AI data centers to drive further investment in electricity generation and grids, particularly in North America. The company said that demand should support spending on gas turbines and transmission infrastructure.
Technology Shares Join the Rally
Europe’s technology sector gained 1.7% in early trading, according to Reuters, as investors reassessed demand for AI infrastructure following a quarterly update from CoreWeave (Nasdaq: CRWV).
The US cloud provider raised its 2026 revenue forecast to $13 billion-$13.3 billion after quarterly sales reached $3.66 billion. Its financing plans helped lift its own shares in US premarket trading.
Today we announced our Q3 earnings:
🔹$3.7B revenue, up 168% YoY
🔹$379M adjusted operating income, well above guidance– CoreWeave (@CoreWeave) November 10, 2026
Oil and Rates Temper the Rally
Brent crude rebounded following attacks on shipping in the Strait of Hormuz, Reuters reported. Higher energy costs remain a pressure point for European businesses, even as power-equipment suppliers benefit from increased investment.
Tuesday’s hotter-than-expected US inflation report had also strengthened expectations of a December rate increase by the Federal Reserve.
