Good morning, you're listening to Markets Desk.
European equities are pointing lower at the open as investors digest a wave of heavy capital expenditure commitments from major U.S. technology firms. The concern isn't the spending itself — it's whether returns will materialize fast enough to justify the scale, and that uncertainty is weighing on sentiment across the Atlantic this morning.
Shifting to pharmaceuticals, GSK has secured early FDA approval for Jideytro, its treatment for adults with locally advanced or metastatic ROS-one-positive non-small cell lung cancer. This is an accelerated approval, meaning GSK will need to confirm clinical benefit in follow-on trials, but it opens a meaningful commercial pathway in a targeted oncology segment that remains highly competitive.
Meanwhile, Nokia reported a sharp drop in second-quarter profit despite net sales actually climbing in the period. The Finnish telecom giant is absorbing cost pressures that are outpacing its revenue growth, though management held its fiscal two thousand twenty six operational outlook steady. They did flag a technical adjustment to guidance, which traders will want to parse carefully before drawing conclusions on the full-year trajectory.
That's the tape. Markets Desk, signing off the floor.
