European stocks post strongest quarter since 2020 on AI optimism
Business
European stocks are wrapping up their strongest quarter since 2020, with the STOXX 600 index up nearly 10% over the past three months.
The big drivers? Excitement around artificial intelligence (AI) and a calmer situation in the Middle East have helped keep markets climbing for three months straight.
Tech stocks rally on AI demand
Tech stocks led the charge, up 1.7% on Tuesday alone, thanks to surging demand for AI hardware, with companies like ASML, STMicroelectronics, and Infineon all posting solid gains.
Siemens Energy also jumped after sharing upbeat news.
Meanwhile, falling oil prices gave energy-hungry Europe a break, and health care stocks got a boost as Abivax soared over 20% after positive trial results.