European Stocks Steady, Poised for Eighth Consecutive Month of Gains

European stocks held steady on Friday, on track for an eighth consecutive month of gains, buoyed by better-than-expected corporate performance which has boosted risk appetite despite lingering concerns about tariffs and the impact of artificial intelligence.

The pan-European STOXX 600 index edged up 0.1% to 634.16 by 0820 GMT, hovering near record highs, with the mining sector leading gains, up 1.7%.

Investor sentiment has been supported by improved overall corporate forecasts in Europe, with updates from major companies such as HSBC, Nestle, and Capgemini contributing to the positive outlook.

The index is nearing its longest monthly winning streak since mid-2012 to 2013, even as worries persist about the impact of AI tools on traditional businesses and trade uncertainty stemming from new U.S. tariffs.

Among individual stocks, Delivery Hero shares fell 5.2% after the online food delivery service announced a total annual merchandise value slightly below market expectations, reflecting competitive pressures and a challenging economic environment. Banks also saw declines, with shares down more than 0.4% each, as investors monitor developments related to the sector's exposure to Market Financial Solutions, a real estate company that entered insolvency proceedings in the UK this week.