European Stocks Attempt Bounce; Telecoms Fall on SpaceX Spectrum Deal

By EC Assets · Published 9 October 2026

European stocks showed an attempt at a bounce on Friday. Meanwhile, European telecommunications shares declined following news concerning Space Exploration Technologies (SpaceX). SpaceX announced an agreement to acquire US wireless spectrum licenses. The decline in European telecom shares occurred on Friday. SpaceX's move involves acquiring a nationwide U.S. spectrum portfolio. This push aims to transform Starlink into a full-fledged mobile carrier. Space Exploration Technologies is known as SpaceX. SpaceX's agreement to acquire US wireless spectrum licenses potentially contributes to its expansion plans for a US mobile network. The company's $8 billion spectrum deal jolted telecom stocks. This development led to a selloff in the sector. The news specifically impacted European telecom stocks. Seeking Alpha quant ratings provided spotlighting for top Buy picks in the telecom sector. These picks include TMUS, ATNI, and VEON. The broader European stock market showed an attempt at recovery. This article is intended for informational purposes only. It does not constitute investment advice.