Rolling coverage of the latest economic and financial news

European markets are subdued this morning – the FTSE 100 is now down very slightly by 0.01%, and the pan-continental Europe Stoxx 600 index is down by 0.34%. That loss is being led by the basic materials sector, which is down 1.43%.

The French IT company Capgemini is a bright spot, with its shares rising by 4.9% after it beat its own target for full-year revenue, up 3.4% at constant exchange rates to €22.5bn (£19.25bn) in 2025. Net income slipped 4% to €1.6bn.

We do not agree with the frenzy, but we also know not to stand in the way of position unwinds and flows. Hence, we would not be stepping in to fade the recent weakness.

We believe that the current market is more nuanced and requires more detailed bottoms up approach to identify winners and losers. AI disruption is not a negative.

The Bank of Russia will assess the need for a further key rate cut at its upcoming meetings depending on the sustainability of the inflation slowdown and the dynamics of inflation expectations.

The baseline scenario assumes the average key rate to be in the range from 13.5% to 14.5% per annum in 2026. This means that monetary conditions will remain tight.”

The upward deviation of the Russian economy from a balanced growth path is decreasing…Growth in domestic demand will moderate in the coming months. Business sentiment demonstrates the same expectations.”

SemiCab platform by Algorhythm, previously considered a ‘penny stock’, sparks ‘category 5 paranoia’ across sector

Shares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.

A new tool launched by Algorhythm Holdings, a former maker of in-car karaoke systems turned AI company with a market capitalisation of just $6m (£4.4m), sparked a sell-off on Thursday that made the logistics industry the latest victim of AI jitters that have already rocked listed companies operating in the software and real estate sectors.

But, after second day of Wall Street falls, analysts say sell-off ‘may overstate AI’s immediate risk to complex deal-making’

Shares in commercial property services companies have tumbled, in the latest sell-off driven by fears over disruption from artificial intelligence.

After steep declines on Wall Street, European stocks in the sector were hit on Thursday.