EU stocks are weak as earnings are eyed, with no surprises from the BoE. DiaSorin plunges in Milan.

( Il Sole 24 Ore Radiocor ) - European indices are moving at an uncertain pace at the mid-session mark. No surprises came from the Bank of England, which decided to keep interest rates at 4.0%, as expected , also in view of the government's budget announcement on November 26. Investors appear to have put aside concerns about the valuations of tech and AI stocks following the gains of recent sessions and are looking for catalysts that will indicate the direction to take. On Wednesday, better-than-expected US data on private sector employment (ADP) and the ISM services index provided an upward push. Today, it will be the turn of the Challenger indicators, indicators that become all the more important as the unemployment figure will not be released due to the ongoing shutdown, the longest in US history. Meanwhile, in Europe, German industrial production rose by 1.3% in September 2025 , marking a 1% decline year-on-year. Estimates were for a 2.5% monthly gain. The market is paying close attention to earnings season.

At its meeting concluded on November 5, the Bank of England's Monetary Policy Committee voted by a majority of 5 to 4 to keep the discount rate unchanged at 4%. The Bank of England announced this, noting that four members voted to reduce the discount rate by 0.25 percentage points, to 3.75%. In its statement, the Bank of England stated that " inflation has peaked" and that "progress in underlying disinflation continues, supported by the continued tightness of monetary policy." This is reflected in "a slowdown in wage growth and services price inflation. Underlying disinflation is supported by weak economic growth and the growing tightness of the labor market."

In Milan, all eyes are on bank profits as DiaSorin collapses.

At the Milan Stock Exchange, attention is focused on Banca Pop Er and Banca Pop Sondr, which approved the merger and the quarterly results. Among banks, Mediobanca released its results after the stock market closed the day before, with profits down 2.5% due to the costs associated with the takeover bids of Banca MPS and Banca Generali . Iveco Group 's profits also declined, as it also lowered its 2025 guidance, while Telecom Italia closed the nine months with revenues of €10 billion. DiaSorin suffered a significant slide following its lower-than-expected quarterly results and a significant reduction in guidance, which led to a revision of estimates by major brokers.

On the foreign exchange market , the euro re-attached the 1.15 level at $1.1512, reversing the previous day's trend. The 1.14-1.15 range in the cross "remains under particular scrutiny," experts at Banca MPS note. "Any break of the 1.14 support level could pave the way for further appreciation of the greenback." Bitcoin fell slightly above $103,000. Among commodities, oil gained ground, with Brent crude at $63.72 a barrel, up about half a point. Gold returned above $4,000 an ounce at $4,004 (+0.6%).