European stocks hit new highs on resource shares' recovery
Business
European stock markets broke records today, with the STOXX 600 index climbing 0.8%.
After a rout in commodity markets late last week appeared to stabilize, things finally steadied—especially for resource stocks, which bounced back.
Big company earnings play a huge part in rally
Big company earnings played a huge part in this rally. Amundi (Europe's top asset manager) saw its shares jump nearly 5% thanks to better-than-expected results, while German semiconductor wafer supplier Siltronic also impressed investors.
Even US tech firm Palantir's strong sales helped lift the mood across Europe.
The upbeat vibe showed up in the STOXX 600, which rose 0.8%—signaling that confidence is back on track for now.