European Markets Rebounded, UK Wage Growth Eased and Jobless Rate Inched Higher

Bridgette Randall
17 Jul, 2025
London

Stock market indexes across Europe rebounded after struggling over the last six consecutive sessions, as investors focused on the fresh batch of corporate results. 

Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher, and advanced semiconductor-linked stocks led the charge after TSMC reported better-than-expected earnings. 

On the economic front, the UK's wage growth slowed and the jobless rate edged up in the three-month period to May, according to the latest data released by the Office for National Statistics. 

Wage growth eased to 5.0% from 5.3%, and the jobless rate inched up 4.7% from 4.6% in the previous three-month period to April, respectively. 

The labor market continues to "weaken," according to the ONS director of economic statistics, Liz McKeown.

 

Europe Indexes and Stocks 

The DAX index in Frankfurt advanced 0.9% to 24,228.32, the CAC-40 index in Paris added 0.8% to 7,789.60, and the FTSE 100 index in London gained 0.4% to 8,962.82. 

ASML Holding NV gained 1.1% to €633.70, Infineon Technologies jumped 1% to €37.77, and STMicroelectronics NV advanced 3.1% to €27.70. 

ABB Ltd. jumped 7% to CHF 50.70, and the Swiss engineering group reported an increase in earnings and a rise in new orders. 

Revenue in the second quarter increased 8% to $8.9 billion from $8.2 billion, net income advanced 5% to $1.15 billion from $1.09 billion, and basic earnings per share rose 6% to 63 cents from 59 cents a year ago. 

New total orders surged 16% to $9.8 billion from $8.4 billion, driven by a strong demand in the U.S. 

The company said it makes about 80% of what it needs in the U.S., easing tariff pressures. 

The company said orders in the U.S., which represents the largest market, surged 37% in the quarter, surpassing the comparable orders increase of 14% from a year ago. 

Novartis AG decreased 0.2% to CHF 94.96, despite the Swiss pharmaceutical company reporting better-than-expected quarterly results and announcing a $10 billion stock repurchase program.