Europe · Business news · Markets · 05 Oct 2026
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European shares closed higher on Monday, October 5, helped by banks: the STOXX 600 gained 0.4% and London's FTSE 100 rose 0.34% to 10,497. Paris went the other way. The CAC 40 lost 0.8% to its lowest level in six months as investors weighed the contested spending cuts in France's 2027 budget and Schneider Electric fell about 10% after its PTC purchase. Genmab rose 5.3% on trial data for an ovarian cancer drug, AkzoNobel 1.8% and BT 1.4% after their deals. In Dublin, AIB added 2.2%.
The split shows the bond selloff is now a country story inside Europe. Higher French government yields raise funding costs for French banks, insurers and heavily indebted companies and lower the value of the sovereign bonds they hold, which is why Paris lags while banks elsewhere gain from higher rates. Investors are also marking down acquirers that pay large cash premiums at today's borrowing costs, as Schneider's fall shows, while rewarding sellers such as AkzoNobel. The euro's slide to a 17-month low helps exporters' reported revenue but makes dollar-priced energy more expensive for the whole region.
Reported by The Irish Times — “Europe’s Stoxx 600 gains on banks boost but fiscal fears hit French stocks” ↗ on 05 Oct 2026.
Official series on 05 Oct 2026 or the last day before it, and the latest observation.
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