MKTMarkets NO. ---
STOXX 600 Gains 0.19% in Week to Nov 6, 2026 as Brent Slumps
European stocks ended a volatile week slightly higher as oil slumped on US-Iran diplomacy and Democrats won the US Congress, before an AI-led sell-off hit on Friday. The Bank of England raised Bank Rate to 4%.
Key takeaways
- The STOXX Europe 600 rose 0.19% in the week to Friday, Nov 6, 2026, closing at 647.96 at 16:30 UTC against 646.75 on Oct 30, Yahoo Finance data show. A 1.06% fall on Friday took back most of the week's gains.
- Spain and France led. Spain's IBEX 35 gained 3.79% to 19,360.20 and France's CAC 40 rose 2.13% to 8,139.37 at 16:30 UTC on Nov 6. London's FTSE 100 fell 0.55% and Germany's DAX slipped 0.09%.
- January Brent crude futures traded at $97.79 at 16:30 UTC on Nov 6, down 13.79% from their Oct 30 settlement of $113.43, as signs of US-Iran diplomacy eased supply fears.
- The Bank of England raised Bank Rate to 4% from 3.75% on Nov 5 in an 8–1 vote, its first increase in more than three years.
- Bond yields fell over the week. The UK 10-year gilt yield dropped 0.121 percentage point to 5.170% and the German 10-year Bund yield 0.069 point to 3.250%, Investing.com data show.
Week in review
European stocks climbed for most of the week, helped by falling oil prices and the result of the US midterm elections, then gave back ground on Friday as a global sell-off in AI-linked shares reached the region. For other regions, see Asian and global market closes and our Nov 5 Europe brief.
The table compares Friday, Nov 6 levels with Friday, Oct 30 closes. Index values are Yahoo Finance last-traded levels at the 16:30 UTC end of continuous trading; Investing.com showed the same Oct 30 closes. Official closing-auction values can differ slightly, and Yahoo's final daily closes for Nov 2–5 can differ slightly from the 16:30 UTC figures in our daily briefs.
| Instrument | Prior week close (Fri) | Week close (Fri) | Weekly change | % change | Week high / low | As of (UTC) | Source |
|---|---|---|---|---|---|---|---|
| STOXX Europe 600 | 646.75 | 647.96 | +1.21 | +0.19% | 662.42 / 642.29 | 2026-11-06 16:30 | Yahoo Finance |
| Euro Stoxx 50 | 6,131.31 | 6,166.86 | +35.55 | +0.58% | 6,318.59 / 6,102.57 | 2026-11-06 16:30 | Yahoo Finance |
| DAX | 25,818.21 | 25,794.12 | −24.09 | −0.09% | 26,692.90 / 25,617.54 | 2026-11-06 16:30 | Yahoo Finance |
| FTSE 100 | 10,729.80 | 10,670.27 | −59.53 | −0.55% | 10,948.20 / 10,528.07 | 2026-11-06 16:29 | Yahoo Finance |
| CAC 40 | 7,969.42 | 8,139.37 | +169.95 | +2.13% | 8,286.43 / 7,944.72 | 2026-11-06 16:30 | Yahoo Finance |
| FTSE MIB | 49,501.00 | 50,063.56 | +562.56 | +1.14% | 51,372.00 / 49,294.00 | 2026-11-06 16:29 | Yahoo Finance |
| IBEX 35 | 18,652.90 | 19,360.20 | +707.30 | +3.79% | 19,710.80 / 18,713.70 | 2026-11-06 16:30 | Yahoo Finance |
| EUR/USD (ECB reference rate) | 1.1172 | 1.1165 | −0.0007 | −0.06% | 1.1267 / 1.1165 | 2026-11-06 13:10 | European Central Bank |
| GBP/USD (derived from ECB rates) | 1.3399 | 1.3385 | −0.0014 | −0.10% | 1.3500 / 1.3385 | 2026-11-06 13:10 | European Central Bank |
| Germany 10-year Bund yield | 3.319% | 3.250% | −0.069 pt | −2.08% | 3.342% / 3.208% | 2026-11-06 16:00 | Investing.com |
| UK 10-year gilt yield | 5.291% | 5.170% | −0.121 pt | −2.29% | 5.281% / 5.085% | 2026-11-06 16:00 | Investing.com |
| Brent crude, Jan 2027 futures | $113.43 | $97.79 | −15.64 | −13.79% | $112.38 / $93.40 | 2026-11-06 16:30 | Yahoo Finance; The Nation |
Notes: currency rows use ECB euro reference rates (set around 13:10 UTC); GBP/USD divides the euro's dollar rate by its sterling rate, and highs and lows are the Nov 2–6 fixing range. Cross-checks: the Bank of England's Oct 30 spot rate was 1.3397, and Yahoo Finance showed 1.3369 at 16:45 UTC on Nov 6. Trading Economics showed the Bund near 3.25% and the gilt near 5.16–5.17% on Nov 6. Brent's Oct 30 settlement is derived from The Nation's report that January Brent settled at $104.77 on Nov 2, down $8.66. Friday's settlement (19:30 UTC) was not yet available, so $97.79 is an intraday price.
Day by day
- Monday, Nov 2: The STOXX 600 rose 0.42% to 649.44. January Brent settled at $104.77, down 7.63%, The Nation (Thailand) reported, as Iran and the US pursued diplomacy, according to CNBC.
- Tuesday, Nov 3: The index fell 0.58% to 645.66 as US voters went to the polls. The UK 10-year gilt yield rose to 5.269%, Investing.com data show.
- Wednesday, Nov 4: The STOXX 600 jumped 1.82% to 657.40, its best day of the week, and the DAX gained 2.22% after Democrats won control of the US Congress, according to Trading Economics. January Brent settled at $94.62, down 8.67%, Investing.com data show.
- Thursday, Nov 5: The index slipped 0.38% to 654.87. The Bank of England raised rates to 4%, and Rheinmetall shares slid 14% during the session after the group cut its 2026 sales forecast for the second time in three months, according to a Reuters report republished by Business Recorder.
- Friday, Nov 6: The STOXX 600 fell 1.06% to 647.96 at 16:30 UTC, and the DAX dropped 2.02% to 25,794.12. Reuters, in a report republished by Business Recorder, said the index was down 1.6% at 644.72 by 08:10 GMT as a global rout in AI stocks spread.
What drove it
Oil slump on US-Iran diplomacy
Crude was the biggest mover of the week. January Brent fell from $113.43 to $97.79 by 16:30 UTC on Friday. CNBC reported on Nov 2 that Brent "lost 7.6% to settle at $104.77 a barrel" as Washington and Tehran pursued diplomacy, and Wednesday's 8.67% drop took the contract below $95. Spain's IBEX 35 and France's CAC 40 posted the week's biggest index gains as oil fell, and government bond yields declined. Cheaper oil also matters beyond Europe: oil-importing economies in Southeast Asia face lower fuel bills, as covered in our analysis of what the Brent slump means for ASEAN.
US midterms: from rally to AI rout
Democrats' victory in both chambers of Congress first lifted European stocks on Wednesday. Trading Economics said lower odds of further deficit-expanding US legislation after the Democratic House takeover eased concerns about US borrowing. By Friday, the mood had turned. Trading Economics reported that investors cut exposure to riskier assets on concerns that the US could tighten AI regulation, and a Reuters report republished by Business Recorder said traders feared a Democrat-led Congress could seek curbs on AI data-centre spending. Reuters added that the STOXX 600 had held up better than Asian and Wall Street peers during the week because Europe has less exposure to AI stocks. For the Asian market response, see US midterm results and ASEAN markets.
Bank of England hike and bond rally
The Bank of England's Monetary Policy Committee voted 8–1 on Nov 5 to raise Bank Rate by 0.25 percentage point to 4%. Catherine Mann preferred a rise to 4.25%. The Bank said inflation "is now expected to rise to around 5% by the middle of next year." Gilts still rallied over the week. Trading Economics said the 10-year yield fell toward 5.1%, its lowest since late August, as investors sought safety during the tech sell-off. It said the yield edged back above 5.15% on Friday after a strong US jobs report lifted US Treasury yields.
Company news
Guidance cuts produced large single-stock moves. Rheinmetall said it no longer expects a contract award this year for Germany's Arminius Boxer vehicle programme, according to a Reuters report republished by Business Recorder. On Friday, Teleperformance fell 18% in early trade after cutting its full-year revenue growth outlook, and media, healthcare and retail stocks each fell more than 2%, Reuters reported in a separate story on the same site.
Political & policy watch
- US Congress: Markets are weighing how a Democratic Congress could affect AI regulation and data-centre spending, according to Trading Economics and Reuters.
- Middle East: Oil prices remain tied to US-Iran diplomacy. Trading Economics reported that Governor Andrew Bailey suggested further tightening may be needed unless the Iran war is resolved.
- Euro area inflation and the ECB: Eurostat's flash estimate put October inflation at 4.0%, up from 3.8% in September, with energy prices up 20.8% from a year earlier. Trading Economics said some ECB officials signalled that further rate increases may be necessary.
- German defence procurement: Rheinmetall tied its forecast cut to the timing of the Arminius Boxer award and slower batch approvals for artillery ammunition, Reuters reported.
What to watch next
- Nov 18: Eurostat publishes full October inflation (HICP) data for the euro area.
- Nov 25: ECB Governing Council non-monetary policy meeting in Frankfurt.
- Dec 16–17: ECB Governing Council monetary policy meeting, with a press conference on Dec 17.
- Dec 17: Next Bank of England Bank Rate decision.
Risk checklist for readers
- Weekly figures can hide large daily swings. The STOXX 600 moved between 642.29 and 662.42 this week but finished only 0.19% higher.
- Country indices can move very differently: the IBEX 35 rose 3.79% this week while the FTSE 100 fell 0.55%.
- Oil is reacting to diplomatic headlines and can move several percent in a day. Check which futures contract a price refers to and whether it is a settlement or an intraday quote.
- Central bank decisions carry information beyond the headline rate. Read the vote split, inflation projections and guidance.
- Company guidance cuts can move a single stock by double digits in one session, even when the wider index barely changes.
- For investors outside Europe, movements in the euro and sterling change returns once converted back to the home currency.
Frequently asked questions
Why did the STOXX 600 rise in the week to November 6, 2026?
The STOXX 600 rose 0.19% to 647.96 at 16:30 UTC on November 6, 2026, from 646.75 on October 30, Yahoo Finance data show. January Brent crude fell 13.79% over the week as Iran and the US pursued diplomacy, and stocks jumped on November 4 after Democrats won control of the US Congress. A global sell-off in AI-linked stocks cut the index 1.06% on Friday.
What is the difference between the STOXX 600 and the Euro Stoxx 50?
The STOXX Europe 600 tracks 600 large, mid and small companies across Europe, including the UK and Switzerland. The Euro Stoxx 50 covers 50 large blue-chip companies from euro-zone countries only, so it excludes London-listed and Swiss stocks and can move differently.
How do oil prices affect European stock markets?
Europe is a net importer of oil, so lower crude prices can ease inflation pressure and reduce costs for airlines, chemicals and consumer companies. Falling oil can also lower bond yields if investors expect less inflation. Energy producers such as Shell and BP tend to weaken when crude falls, which weighs on oil-heavy indices like the FTSE 100.
This article is for information only and is not investment advice.
