European stock markets finished the week on a positive note, buoyed by strong corporate earnings reports, while a swift confirmation of Kevin Warsh as the next U.S. Federal Reserve chair triggered a notable shift in commodity markets. The pan-European Stoxx 600 closed up 0.64%, as investors reacted favorably too the news and continuing economic data. the developments sent shockwaves through precious metals trading, with gold and silver experiencing notable declines amid a strengthening U.S. dollar.
European stock markets closed the week with gains following a wave of corporate earnings reports. Simultaneously, the price of gold and silver plummeted as markets reacted favorably to the confirmation of Kevin Warsh’s nomination as the next chair of the U.S. Federal Reserve, according to CNBC.
The pan-European Stoxx 600 rose 0.64% to close at 611 points, with the majority of its sectors posting positive results. The index’s performance reflects ongoing investor optimism despite global economic uncertainties.
Germany’s DAX reached 24,538.81 points, a gain of 0.94%. Adidas significantly influenced the leading Frankfurt exchange indicator, reporting record revenues of €24.8 billion for 2025. The company’s shares jumped 4% to €149.15 apiece. This positive outlook for Adidas underscores the strength of the consumer discretionary sector.
In France, the CAC 40 added 0.68% to its value, closing at 8,126.53 points. The FTSE100, London Stock Exchange’s leading index, increased by 0.51% to 10,223.54 points.
Spanish bank CaixaBank was also among the major winners, reporting a profit increase to €5.89 billion, alongside higher dividends. This news drove a nearly 7% increase in the bank’s share price, closing at €11.16 per share. The strong performance of CaixaBank highlights the resilience of the European banking sector.
Oil markets experienced modest gains. American West Texas Intermediate (WTI) crude traded at almost $66 per barrel, up 0.5%. Brent crude rose 0.15% to nearly $71 per barrel. Both benchmark grades recorded their sharpest monthly changes in years amid heightened tensions surrounding Iran.
On the currency markets, Kevin Warsh’s nomination to lead the Federal Reserve bolstered the value of the U.S. dollar. The euro traded at $1.1879. One British pound was exchanged for $1.3709.
The price of gold and silver declined sharply after markets overcame concerns about the potential loss of Federal Reserve independence under new leadership. Gold fell 8% to $4,900 per troy ounce. Silver reached $90 per troy ounce, a decrease of 21%. The decline in precious metals prices suggests a shift in investor sentiment towards riskier assets.
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