European shares muted as rising autos, banks counter declining healthcare stocks

European shares opened flat on Friday as losses in healthcare stocks were offset by gains in bank and automobile stocks, with focus on French politics as President Emmanuel Macron is expected to announce a new prime minister soon.

The pan-European STOXX 600 held steady at 571.2 points by 0712 GMT, headed for a third straight weekly gain.

Automobiles gained 0.9%, with Milan-listed shares of Stellantis up 1.5% after the automaker said its global vehicle shipments rose 13% year-on-year in the third quarter.

Euro zone banks climbed 0.5% early on, with France’s BNP Paribas and Germany’s Commerzbank gaining close to 1% each.

On the downside, heavyweight healthcare stocks dipped 0.5%, with UK drugmaker AstraZeneca and Denmark’s Novo Nordisk off about 1% each.

Investors will also tune in to developments in France, where President Emmanuel Macron will convene a meeting of France’s mainstream political parties ahead of a self-imposed deadline to name a new prime minister. French blue chips gained 0.3%. Germany’s Energiekontor dropped 13.3% after the wind and solar park developer cut its 2025 earnings forecast. \