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ITV jumps on talks with Sky over media unit sale

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Rightmove ( RTMVF ) slumps on slower profit growth forecast for 2026

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Novo Nordisk edges down on weight-loss pricing deal in

U.S.

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Aumovio secures much-needed Nexperia chips from China, CEO

says

(Updates after markets close)

By Johann M Cherian and Sukriti Gupta

Nov 7 (Reuters) -

European shares ended a volatile week lower on Friday, as

worries about elevated valuations of technology-related stocks

persisted, while Britain's ITV jumped on talks to sell its

broadcasting division.

The continent-wide STOXX 600 index closed down 0.6%

at 564.79 points. It logged its biggest two-week loss since

early September, when sovereign debt worries and political

uncertainty in France resurfaced.

While there was no specific reason for this week's selloff,

analysts point to a myriad of factors, including elevated

valuations in tech-related stocks, a U.S. government shutdown

and hawkish Federal Reserve commentary.

"The moves that we have seen captured just this heightened

nervousness after this robust AI-fueled rally (that) certainly

has driven markets in recent months... The extended U.S.

government shutdown is just adding to those overall investor

jitters," said Laura Cooper, head of macro credit at Nuveen.

"Europe is just caught up in the spillover of the broad

risk-off sentiment that's largely stemming from the U.S. price

action."

Technology stocks, down 2.1% on the day, were among

the top decliners on the week, while tech equipment makers such

as Schneider Electric and Siemens Energy

logged heavy losses. Heavyweight banks declined 0.9%.

AUTOMAKERS SEE GAINS, BROADCASTER ITV JUMPS

On the other hand, beaten-down auto stocks, which

added a further 0.6% on Friday, have rallied on expectations

that Nexperia will resume chip shipments from China.

Aumovio gained 9.8% after reporting strong

third-quarter results. The chief executive of the German car

parts supplier told Reuters that the company has secured

deliveries of Nexperia's chips from China.

ITV jumped 16.6%, to top the STOXX 600 index, after

saying that it was in talks with pay-TV company Sky, owned by

Comcast ( CMCSA ), over a potential sale of its media and

entertainment unit for 1.6 billion pounds ($2.15 billion)

including debt.

Investors also scrutinized a series of earnings updates to

gauge the health of corporate Europe.

"Overall, the earnings have been positive. More recently,

we're seeing estimates stabilizing for 2026... (which) is

welcome for investors. The two key themes that dominated the

earnings season last quarter around euro strength and tariff

risks are actually dissipating. So that is providing a bit more

of a constructive backdrop for the earnings season so far,"

Cooper added.

Rightmove ( RTMVF ) slumped 12.5% after Britain's biggest

property portal forecast slower profit growth in 2026.

British Airways-owner IAG lost 11.6% after

reporting quarterly results and cautioned about softness in the

U.S. economy cabin market.

Monte dei Paschi di Siena gained 4.4% after the

Italian lender posted third-quarter profit that topped estimates

and raised its 2025 outlook.

Meanwhile, Novo Nordisk lost 5.1% after the

drugmaker and peer Eli Lilly ( LLY ) struck a deal with the U.S.

to lower prices of their blockbuster GLP-1 weight-loss drugs.