Nvidia Helps Drive European Stocks to Record High
European stocks closed at an all-time high, spurred by a roster of earnings in Europe and the spillover from Nvidia’s red-hot results in the U.S.
Tweet on EU’s stock fluctuation
European stocks closed at an all-time high, spurred by a roster of earnings in Europe and the spillover from Nvidia's red-hot results in the U.S.#europe #stocks #chips pic.twitter.com/O38GxqHzfk
— The_Journalbiz (@the_journalbiz) February 22, 2024
Factset chart
The Stoxx Europe 600, which tracks major European equities, rose 0.8% to 495.10, a record that topped its previous peak in January 2022.
European tech stocks led the increase, with the Stoxx technology index up some 3%.
Shares of ASML, a major manufacturer of semiconductor equipment, rose 5% in the Netherlands.
Rolls-Royce stock jumped 8% in London after the British aerospace and defense company swung to a pretax profit, with revenues ahead of expectations.
Anglo-American shares rallied after the London-listed mining giant held its guidance unchanged and posted results in line with analysts’ expectations.
In other positive news for Europe, a purchasing managers’ survey published Thursday showed that the eurozone was continuing to climb out of its economic downturn despite a bleak outlook for the key industrial sector in Germany.
