Market Wrap: Telecom Services shaped the close

🇪🇺 European equities saw a late rotation into Electrical Equipment & Parts and Utilities - Diversified, though the broader session remained choppy. The move was confirmed by strong gains in PNL.AS, which held its breakout above key resistance and sustained the move into the close. Other industrials like NG.L and RIO.L also confirmed the theme, signaling a potential shift from earlier sector weakness. The session’s late flow shift at 04:45 ET suggests traders are positioning for a more sustained move, but the overall tone remains cautious amid mixed signals. The focus now shifts to next week’s setup, with ACKB.BR, BAER.SW, BKG.L, and ELUX-B.ST on the watchlist. The key test for the rotation’s durability will be whether these names can hold their early strength and confirm above recent resistance levels. The market’s ability to sustain the late-session momentum in PNL.AS and the other leaders will determine if this rotation gains traction or remains a fleeting move.