European Stocks Rise Sharply on US Momentum and Bond Decline
European stocks closed significantly higher on Friday (May 22nd), boosted by positive momentum in North American markets and falling bond yields, which improved macroeconomic sentiment for the corporate sector.
The Eurozone STOXX 50 index rose 3% to 6,025, while the pan-European STOXX 600 index rose 1.9% to 626, both testing their highest levels since before the outbreak of the Iran war in late February.
Artificial intelligence (AI) infrastructure companies led the rally, with the market assessing the potential for continued strong momentum in the sector. Nokia surged 10.6% after announcing a joint project with AMD, Lenovo, and Supermicro, while ASML rose almost 5%.
The banking and industrial sectors also experienced sharp gains. Shares of Schneider, Airbus, Santander, and UniCredit each added more than 2%, reflecting investor optimism about corporate performance and the improving regional economic outlook.
Source: Newsmaker.id