Europe · Business news · Markets · 07 Oct 2026
EU Financials Energy Utilities
European shares gave back ground after three days of gains. By midday the STOXX 600 was down about 1% at 630 and the FTSE 100 was 0.59% lower at 10,479.57. French 10-year government bond yields rose 12 basis points to 4.85%, the euro fell 0.6% to $1.1191 and Brent crude gained 1.14% to $101.73 a barrel on Middle East tension and supply worries. Pennon slumped after announcing its 550 million pound rights issue and dividend cut; Bridgepoint rose sharply after raising its earnings guidance.
Two costs rose at once for European companies: energy, with Brent back above $100, and borrowing, with French yields near 4.85% lifting the benchmark that banks, utilities and property companies in the euro area fund against. A weaker euro makes dollar-priced oil dearer still for importers while helping exporters that report in euros. Regulated utilities are exposed through both channels, which is part of why a rights issue such as Pennon's is being priced at a deep discount. This is a midday reading, not the close.
Reported by ShareCast via Hargreaves Lansdown — “Europe midday: Shares extend losses as rally fizzles out on higher bond yields, oil” ↗ on 07 Oct 2026.
Official series on 07 Oct 2026 or the last day before it, and the latest observation.
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