STOXX 50 and STOXX 600 Rise 0.6% Despite Looming Middle East Risks
European stocks moved higher on Tuesday (June 2), with the STOXX 50 and STOXX 600 both rising 0.6% after starting June lower in the previous session. This rise reflects a "buy the dip" movement as investors capitalized on the correction while assessing whether the global tech and AI-driven rally remains solid enough to continue.
Market focus also remains on dynamics in the Middle East. Negotiations are said to remain fluid and the Strait of Hormuz is reported to remain largely closed, but the mood has improved after a slight correction in oil prices, which has helped ease concerns about energy costs and provided some room for risk sentiment.
On the macro front, attention is shifting to the preliminary release of Eurozone inflation. Headline inflation is expected to rise to 3.2%, while core inflation is projected to strengthen to 2.4%—figures that could potentially influence expectations about policy direction and market perceptions of the pace of inflation decline in the region.
The technology sector was again the main driver, with ASML rising 1%, SAP gaining 1.6%, and Infineon surging 5.3%. Prosus surged around 10% and became the strongest performer on the STOXX 600 after reports emerged that Tencent—a company that is a significant holding of Prosus—is testing a new AI agent, confirming that the AI narrative remains a dominant catalyst for certain stocks. (asd)
Source: Newsmaker.id
