iShares MSCI Denmark ETF

EDEN

Market cap $204M

The European Union will fund seven artificial intelligence gigafactories across the bloc ​with €10 billion ($11.5 billion), the European Commission said ‌on Thursday, as the EU steps up efforts to close the technology gap with the U.S. and China.

The fires ravaging southwestern Europe could be a headwind for publicly-listed companies, Jefferies said in a research note on Tuesday.

European shares climbed nearly 1% on Monday as a pause in US-Iran hostilities over the weekend pushed oil prices lower. The move also improved risk appetite across financial markets.

The 27-nation bloc this week fined Google $1 billion for violating digital competition rules.

Euro zone companies are struggling to raise prices for consumers already struggling with a rise in fuel costs, with fierce competition from China compounding tough market conditions, ​a European Central Bank survey showed on Friday.

Sam Vadas breaks down the ECB's decision to hold interest rates steady and what it signals for the region's economic outlook. Marley Kayden also covers the latest move in energy markets as oil prices climb above $90 per barrel, highlighting the factors driving the rally.

The European Central Bank kept borrowing costs unchanged, with the deposit rate remaining at 2.25%. This buys the central bank time to wait for data to judge whether price pressures caused by the Iran war require additional fiscal tightening.

The European Central Bank kept borrowing costs on hold on Thursday but left room ​for more tightening in the coming months as ‌a widening conflict in the Middle East pushed up energy prices again.

The central bank held rates steady, but could resume hiking as surging oil prices threaten to drive inflation and bond yields higher.

The latest flare-up in fighting probably won't force the European Central Bank's hand on Thursday, even as energy costs creep higher.