European Stocks Extend Gains
European stocks traded higher on Thursday, with the STOXX 50 gaining 0.3% and the STOXX 600 advancing 0.6%, with the latter reaching a fresh record high. The gains extended the strong rally seen in the previous session, when a Democratic sweep of the US Congress triggered a broad-based rebound in equity markets. Meanwhile, investors remained focused on the ongoing earnings season for further direction. Luxury, banking and consumer stocks led the gains, while energy, defense and technology shares underperformed, reflecting a broader global sell-off driven by renewed concerns over AI. HSBC rose 1.7%, SAP added 0.7%, Siemens climbed 1.2%, LVMH advanced 3.3%, Inditex gained 2.1% and Safran surged 3.6%. On the downside, ASML Holding fell 2.1%, while Shell and TotalEnergies declined 1.9% and 2.8%, respectively. Rheinmetall plunged more than 16% after lowering its full-year guidance. Deutsche Telekom also lost 1.4% after announcing a €2 billion share buyback that fell short of expectations.
European stocks traded higher on Thursday, with the STOXX 50 gaining 0.3% and the STOXX 600 advancing 0.6%, with the latter reaching a fresh record high. The gains extended the strong rally seen in the previous session, when a Democratic sweep of the US Congress triggered a broad-based rebound in equity markets. Meanwhile, investors remained focused on the ongoing earnings season for further direction. Luxury, banking and consumer stocks led the gains, while energy, defense and technology shares underperformed, reflecting a broader global sell-off driven by renewed concerns over AI.
HSBC rose 1.7%, SAP added 0.7%, Siemens climbed 1.2%, LVMH advanced 3.3%, Inditex gained 2.1% and Safran surged 3.6%. On the downside, ASML Holding fell 2.1%, while Shell and TotalEnergies declined 1.9% and 2.8%, respectively. Rheinmetall plunged more than 16% after lowering its full-year guidance. Deutsche Telekom also lost 1.4% after announcing a €2 billion share buyback that fell short of expectations.