Europe Hits Record as DAX Jumps, US Futures Fall on Nvidia

European shares hit a record high on Thursday morning, November 12, 2026, while US stock futures fell as selling in Nvidia and other AI stocks spread before the New York open.

The pan-European STOXX 600 rose 0.4 percent to 665.79 in early trade, a fresh record, after it rose 0.7 percent to a record close on Wednesday. Germany's DAX rose a little over 1 percent and set a fresh record high. France's CAC 40 rose 0.8 percent and the UK FTSE 100 edged up 0.2 percent, dpa-AFX reported.

Earnings lift Frankfurt and London

Company results did most of the work in Europe. Siemens rose 4.6 percent after it raised its medium-term targets and reported fourth-quarter results ahead of forecasts. Allianz rose about 2 percent after third-quarter earnings beat forecasts and the insurer lifted its full-year outlook. Munich Re rose 1.7 percent and Merck KGaA gained 2 percent after raising its annual core profit guidance.

In London, Burberry rose 8 percent after first-half adjusted operating profit jumped 225 percent, and B and M European Value Retail rose 17 percent after sales, margins and profit all beat forecasts. Adecco rose nearly 15 percent in Zurich after third-quarter profit beat forecasts. Rolls-Royce held its 2026 underlying operating profit guidance of 4.7 billion to 4.9 billion pounds and announced an extra 1.5 billion pound share buyback, ADVFN reported.

Not every report landed well. Wizz Air fell nearly 1 percent after profit for the first half of its fiscal year fell by two-thirds and the airline warned of higher costs. Telefonica fell 2.3 percent after it cut its full-year revenue forecast, and BHP fell 1.2 percent in London.

UK growth helps the mood

Sterling rose against the dollar and the euro after official figures showed the UK economy grew 0.7 percent in the third quarter, following 0.5 percent growth in the second quarter. Output grew 1.9 percent from a year earlier, in line with forecasts, dpa-AFX reported. The Orbit Post carries the UK growth figures in full in a separate report.

Wall Street points down

US futures told a different story. At 4:11 a.m. ET, Dow futures were up 20 points, or 0.04 percent, S and P 500 futures fell 29.25 points, or 0.38 percent, and Nasdaq 100 futures dropped 226.25 points, or 0.79 percent, Reuters reported.

Nvidia fell 7 percent in premarket trading after reports that its board is weighing the removal of chief executive Jensen Huang. Chip stocks fell with it. Intel, Marvell Technology and Micron fell between 2.6 percent and 3.4 percent. CoreWeave fell 7.2 percent and Nebius fell 4.7 percent, one day after strong CoreWeave results had lifted AI stocks on Wednesday. Tesla fell 0.8 percent and Alphabet rose 0.5 percent.

The split followed a lower close in Asia, where Taiwan's Taiex fell 2.63 percent as chip shares dropped. The Orbit Post reported the Asia close in a separate story.

What happens next

The US cash market opens at 9:30 a.m. ET. Cisco Systems and Applied Materials report results on Thursday, and traders will watch whether the premarket fall in chip stocks spreads into the regular session or fades as it did earlier this week. In Europe, the question is whether the record run holds into the close with earnings still arriving.