European Stocks Hit New Highs

2026-07-03 07:34 By Joana Taborda 1 min. read

European stocks were in the green on Friday, with both the STOXX 50 and the STOXX 600 gaining 0.5% to reach fresh record levels.

The advance tracked the upbeat sentiment across Asian markets after China's services PMI data came in above expectations, while a softer-than-expected US jobs report yesterday helped to ease concerns of an imminent rate hike by the Fed.

In Europe, Spain's services PMI also surprised to the upside, pointing to solid expansion in the sector but in Italy growth in services rebounded slightly less than anticipated.

Technology, industrials, automakers, and utilities led the gains.

Shares of Siemens jumped 1.8% after Kepler Cheuvreux upgraded the stock to 'hold' from 'reduce'.

ASML Holding (+1.9%), ABB (+1.8%), Airbus (+1.9%), and Iberdrola (+1.3%) also booked strong gains.

In contrast, L'Oreal (-2%) and Kering (-1.9%) were among the worst performers.

On the week, the STOXX 50 rose 2.3% and the STOXX 600 added 1.9%, the strongest weekly gain in about a month.



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European Stocks Hit New Highs
European stocks were in the green on Friday, with both the STOXX 50 and the STOXX 600 gaining 0.5% to reach fresh record levels. The advance tracked the upbeat sentiment across Asian markets after China's services PMI data came in above expectations, while a softer-than-expected US jobs report yesterday helped to ease concerns of an imminent rate hike by the Fed. In Europe, Spain's services PMI also surprised to the upside, pointing to solid expansion in the sector but in Italy growth in services rebounded slightly less than anticipated. Technology, industrials, automakers, and utilities led the gains. Shares of Siemens jumped 1.8% after Kepler Cheuvreux upgraded the stock to 'hold' from 'reduce'. ASML Holding (+1.9%), ABB (+1.8%), Airbus (+1.9%), and Iberdrola (+1.3%) also booked strong gains. In contrast, L'Oreal (-2%) and Kering (-1.9%) were among the worst performers. On the week, the STOXX 50 rose 2.3% and the STOXX 600 added 1.9%, the strongest weekly gain in about a month.
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