European Stocks Close at Record

European stocks closed higher on Thursday, gaining traction from a muted session yesterday amid fresh support from the tech sector. Euro STOXX 50 gained 0.8% to 6,263 and the STOXX Europe 600 rose 0.8% to a record high of 640. Chip stocks and companies with exposure to AI infrastructure surged following their pullback yesterday after the strong guidance by Micron in the US restored some confidence in the AI trade. ASML added 2.6% and Infineon gained 2.3%, while Siemens Energy jumped 2.5%. Meanwhile, banks also rebounded as energy prices retreated further and lowered sovereign yields in the Eurozone, supporting the outlook for credit activity. BNP Paribas and BBVA rose 1.5%. Lastly, Bayer surged close to 20%, its strongest session in 23 years after the US Supreme Court sided with the drugmaker on lawsuits concerning its Roundup weedkiller.

European stocks advanced on Thursday, with the STOXX 50 gaining 0.6% and the STOXX 600 rising 0.4%, rebounding from two consecutive sessions of losses. Investor sentiment improved after strong results and upbeat sales guidance from Micron Technology reinforced optimism around AI-related demand, helping reverse the tech-sector weakness seen earlier in the week. Meanwhile, oil prices continued to fall, returning to levels seen before the Iran conflict and easing concerns about renewed inflationary pressures. Among the top performers, ASML Holding surged 3.9%, while STMicroelectronics and Infineon Technologies climbed 4.5% and 5.9%, respectively. Elsewhere, 3i Group jumped more than 9% after sales at its portfolio company Action slowed less than investors had feared. On the downside, H&M plunged 4.5% after reporting weaker-than-expected quarterly results, with earnings weighed down by one-off restructuring costs. Meanwhile, SAP fell 1.6%, Prosus lost 1%, and Sanofi declined 1.3%.

European equity markets were poised to open higher on Thursday, tracking gains across global markets after Micron Technology’s strong earnings report reinforced optimism surrounding the artificial intelligence sector. Investor sentiment was also supported by progress in US-Iran peace efforts, which helped push oil prices back to pre-conflict levels, easing inflation concerns and reducing pressure on central banks to raise interest rates. In Europe, market participants will focus on consumer confidence data from Germany and France, along with Spain’s final first-quarter GDP figures. Meanwhile, the corporate earnings calendar remains relatively quiet, with no major results scheduled for release. In premarket trading, Euro Stoxx 50 futures rose 0.3%, while Stoxx 600 futures gained 0.2%.