European equities traded modestly higher on Friday, although investor sentiment remained cautious as markets continued to monitor developments in the Middle East.
Regional tensions intensified after Hezbollah rejected a newly proposed ceasefire arrangement with Israel. Meanwhile, the Israel Defense Forces (IDF) announced the killing of Abed Harb, identified as the commander of Hezbollah’s engineering unit, adding to concerns over a further escalation in the conflict.
Major Indices Post Limited Gains
Trading activity remained subdued across the region.
Germany’s DAX Index hovered close to flat territory, while France’s CAC 40 Index and the U.K.’s FTSE 100 Index both advanced by around 0.3%.
Investors largely refrained from taking aggressive positions as geopolitical uncertainty continued to dominate market sentiment.
Technology Sector Under Pressure
Technology shares were among the weakest performers of the session following disappointing reactions to earnings news from Broadcom.
Infineon Technologies (TG:IFX) dropped 6.6%, while semiconductor equipment maker ASM International lost more than 4%.
The declines reflected broader concerns over the outlook for the technology sector after recent enthusiasm surrounding artificial intelligence-related stocks.
Energy Stocks Ease as Oil Prices Stabilize
Energy companies also traded slightly lower after crude oil prices steadied following losses in the previous session.
Among the major movers, BP Plc (LSE:BP.) and Shell (LSE:SHEL) both recorded modest declines as investors assessed the latest developments in energy markets.
Bodycote Slides After Apollo Withdraws Interest
Bodycote (LSE:BOY) was one of the session’s biggest fallers, with shares tumbling approximately 10%.
The decline followed news that Apollo Global Management had abandoned plans to pursue a £1.52 billion ($2.04 billion) takeover of the British thermal processing specialist.
The decision removed the prospect of a near-term acquisition premium that had previously supported the stock.
Raspberry Pi Surges on Strong Earnings Outlook
In contrast, Raspberry Pi Holdings (LSE:RPI) emerged as one of the strongest performers in the market.
Shares of the single-board computer manufacturer jumped around 20% after the company said it now expects full-year earnings to come in well ahead of current market forecasts.
The upbeat guidance fueled strong investor demand and helped offset weakness elsewhere in the technology sector.
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