European stocks experienced a mixed session, with Stellantis shares plummeting after the automaker announced a shift away from electric vehicles (EVs). The auto giant plans to take a €22.2 billion charge, largely due to changes in its EV roadmap amid softening demand. This strategic pivot signals a reassessment of the current EV market dynamics, impacting investor confidence.

Societe Generale saw gains after increasing its profitability targets, while Italian utility Enel confirmed strong financial results. The German DAX edged up, but the French CAC 40 and UK's FTSE 100 saw slight declines. These movements reflect a broader trend of cautious trading influenced by corporate earnings reports and key central bank decisions earlier in the week.

German exports rose unexpectedly, but industrial output fell, adding to uncertainty about economic recovery. Oil prices are poised for a weekly drop, influenced by talks between the U.S. and Iran. Investors are watching to see if these discussions will reduce tensions. The market continues to react to both geopolitical developments and corporate performance.

Stellantis's decision to scale back its EV plans is a significant move, given the industry's focus on electrification. This could indicate a broader trend of companies reevaluating their strategies. Investors should closely monitor the company's next steps and the impact on the broader automotive sector. What happens next?