European stocks near record after Micron value topped $1 trillion
Business
European stocks are just shy of a record, with the Stoxx Europe 600 index rising 0.3% to nearly matching its February peak.
Tech giants like ASML and Infineon led the charge, boosted after Micron Technology's value topped $1 trillion.
Carmakers rise, energy slips, AkzoNobel surges
Auto stocks like Volkswagen, Stellantis, and Ferrari climbed over 1%, helped by steady growth in electric and hybrid sales.
Meanwhile, energy shares fell as oil prices dropped on hopes for a U.S.-Iran peace deal.
Paint company AkzoNobel made headlines too, jumping up to 17% after rejecting a cash takeover offer from Nippon Paint and Sherwin-Williams.
Europe has less tech exposure
Fares Hendi notes that while Europe is doing well lately, it still has less tech exposure than the US or Asia because its tech sector is much more modest.