European Stocks Extend Rebound
European stocks closed higher for a second session on Tuesday as banks and technology stocks extended their gains. The Euro STOXX 50 added 0.7% to 6,337 and the STOXX Europe 600 rose 0.4% to 659.1, less than 0.3% away from its record high touched in August. Financial stocks continued to lead the gains amid strong results from the sector. UniCredit gained 2.4% to close 9% up since the start of the week on robust earnings yesterday and its optimistic outlook on the imminent Commerzbank takeover. Italian stocks also closed higher with strong results from Banca Mediolanum and Credit Agricole's acquisition interest on Banca BMP. Meanwhile, ASML rose 1.3% to stretch yesterday's rebound following the positive outlook from TSMC, as markets continued to gauge demand for AI ahead of Anthropic's IPO in the US next week.
European stocks closed higher for a second session on Tuesday as banks and technology stocks extended their gains. The Euro STOXX 50 added 0.7% to 6,337 and the STOXX Europe 600 rose 0.4% to 659.1, less than 0.3% away from its record high touched in August. Financial stocks continued to lead the gains amid strong results from the sector. UniCredit gained 2.4% to close 9% up since the start of the week on robust earnings yesterday and its optimistic outlook on the imminent Commerzbank takeover.
Italian stocks also closed higher with strong results from Banca Mediolanum and Credit Agricole's acquisition interest on Banca BMP. Meanwhile, ASML rose 1.3% to stretch yesterday's rebound following the positive outlook from TSMC, as markets continued to gauge demand for AI ahead of Anthropic's IPO in the US next week.