STOXX 600 reaches 656.86 as tech and earnings boost Europe
European markets just hit a new all-time high, with the STOXX 600 index climbing to 656.86 points, thanks mostly to a strong showing from tech stocks and upbeat earnings reports.
Investment strategist Ruben Dalfovo at Saxo Bank summed it up well, saying that European main indexes have been flirting with record levels since the end of last month, but already in the past few months, we have seen consecutive months of gains, and one of the main reasons is definitely the rising corporate profits.
European semiconductors lead gains, energy slips
Semiconductor companies like BE Semiconductor (up 8.1%) after Berenberg upgraded the stock to "buy" and Soitec saw major gains. Bayer also surprised investors with solid profits.
On the flip side, Lufthansa's shares dropped 8.2% over profit worries tied to fuel costs, while Zalando tumbled 13.4% after cutting its growth outlook for 2026.
The energy sector slipped too as energy stocks fell 1.7% for a second straight session, with oil prices hitting a three-week low after Qatar said mediators were making progress in efforts to end the war.