European shares may open on a firm note on Thursday as Cisco Systems reported record fiscal third-quarter results for fiscal 2026 and investors pinned hopes on U.S.-China talks yielding positive results on the Iran war.
Cisco shares gained nearly 19 percent in extended trading after the company beat Wall Street estimates, raised FY26 AI orders and revenue outlook, and announced plans to eliminate close to 4,000 jobs, positioning the company as "critical infrastructure for the AI era".
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.