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EU stocks' rally pauses, gold holds above $4,000
Gulf Today
|October 10, 2025
The rally in European stocks paused on Thursday, with the FTSE IOO dragged down by banking shares, while investors weighed up the risk of a market correction.
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Wall Street hit fresh record highs in the previous session, as investors bet on gains in technology stocks, despite a US government shutdown leaving traders without some key economic data.
The US shutdown and political risk in Japan and France have made investors nervous this week, creating safe-haven demand which, along with a weaker dollar, has driven gold above $4,000 for the first time.
STOXX DOWN 0.28 ON THE DAY The STOXX 600 was down 0.28 on the day at 1059 GMT and London's FTSE IOO was also down 0.28, hit by losses at HSBC and Lloyds Banking Group but partially offset by gains in mining and technology stocks. The MSCI World Equity Index was up just O.18 on the day. US stock futures dipped, pointing to a mixed open for Wall Street.
"It just feels like the mood is a little bit fragile," said Fiona Cincotta, senior market analyst at City Index.
This story is from the October 10, 2025 edition of Gulf Today.
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