Key facts
- European shares rose on Thursday, with the STOXX 600 index up 0.4%.
- Technology stocks were the top sectoral gainers, rising 1.6%.
- Chip stocks such as Siltronic, Soitec, and ASML saw significant gains.
- Crude oil prices were marginally lower as investors assessed Middle East conflict outlook.
- AstraZeneca shares slid 8% after its nerve disease drug failed a trial goal.
European shares experienced a choppy trading session on Thursday, ultimately closing higher as technology stocks staged a rebound. The pan-European STOXX 600 index gained 0.4% by 0710 GMT, with the technology sector leading the advance, up 1.6%. Individual chip stocks such as Siltronic, Soitec, and ASML saw notable increases.
Investor sentiment was also supported by a report suggesting China might grant domestic AI firms limited access to Nvidia's H200 chips, potentially boosting demand for AI infrastructure. This news provided a temporary reprieve from concerns over elevated valuations in the tech sector, which has been the worst performer on the benchmark index this month.
Meanwhile, crude oil prices saw a marginal decline as markets digested comments from U.S. President Donald Trump regarding Iran and the ongoing conflict in the Middle East. Trump's remarks about Iran seeking a deal and the U.S. having launched fresh strikes on Tehran contributed to investor caution.
Spanish stocks outperformed the broader European market, rising 0.9% and recovering from a recent low. AstraZeneca shares, however, slid 8% after its nerve disease drug, Wainua, developed in partnership with Ionis, failed to meet its primary goal in a late-stage trial.