LIVE MARKETS — What the AI capex cycle might mean for European growth

(Adds blog post) STOXX 600 up 0.7% Healthcare stocks lead gains, boosted by 8% jump in Genmab shares Wall St futures higher Welcome to the home for real-time coverage of markets brought to you reporters. You can share your thoughts with us at What The Ai Capex Cycle Might Mean For European Growth Most of the spending that is part of the global AI capex cycle is concentrated in Asia and the US, but Goldman Sachs says there are also "signs of positive growth spillovers into Europe." They've taken a look at the evidence, for example by analysing the impact of AI spending and industrial production data in sectors exposed to AI investment, and cross-checking their findings with relevant earnings expectations. "Taken together, our exercise points to a European growth boost of 0.05pp to 0.15pp, with a mean estimate of 0.10pp," they said. Which isn't that much in the grand scheme of things, but also isn't nothing — especially for Europe. The impact won't be the same across Europe though — two sets of countries stand to benefit specifically, Goldman said. "First, countries that attract physical investment in data centres, such as Scandinavian economies and Iberia, are.