STOXX 600 climbs as Micron and Qualcomm calm AI fears
Business
European stocks kicked off Thursday with a boost, mainly thanks to strong tech performance and falling oil prices.
The STOXX 600 index climbed 0.27%, as upbeat forecasts from US chipmakers Micron and Qualcomm helped calm worries about overheated AI stock values.
Tech stocks lead, oil falls
Tech was the star sector, jumping 1.7%, with Infineon up 5.2% and STMicroelectronics up 3.7%. Semiconductor suppliers BE Semiconductor and ASML also saw solid gains.
Oil prices dropped after supply fears eased, lifting overall market sentiment.
Meanwhile, easyJet shares soared 5.5% after rejecting a takeover bid, while H&M slipped 1.2% following disappointing profits, showing how individual companies are moving with broader trends.