Europe’s STOXX 600 steady after volatile week; ITV soars

(Reuters) -European shares edged up on Friday, in what appeared to be a steady end to a week marred by worries about elevated valuations of technology-related stocks globally, while the UK’s ITV jumped on a potential sale of its broadcasting division

The continent-wide STOXX 600 index edged up 0.2% to 569.02 points by 0810 GMT.

Despite the day’s gains, the main index is on track for its biggest two-week loss since early September.

While there was no specific reason for this week’s selloff, analysts point to a myriad of factors, including elevated valuations in tech-related stocks, a U.S. government shutdown and hawkish Federal Reserve commentary.

ITV jumped 18.2% after saying that it was in talks with pay-TV company Sky, owned by Comcast , over a potential sale of its media and entertainment (M&E) unit for 1.6 billion pounds ($2.15 billion) including debt.

The broader STOXX media sector rose 1% and led sectoral gains.

Rightmove lost 24% after Britain’s biggest property portal forecast slower profit growth in 2026, weighed down by investments it expects to make, primarily in artificial intelligence, to bolster operations in the long term.

Monte dei Paschi di Siena gained 4.5% after the Italian lender posted a surprise rise in third-quarter profit.

(Reporting by Johann M Cherian in Bengaluru)