STOXX 50 and STOXX 600 Rise Amid Lower Oil Prices
European stock markets rallied on Thursday (June 4), with the STOXX 50 rising 0.5% and the STOXX 600 gaining 0.4%. This rise was supported by a slight decline in oil prices and growing hopes for a broader agreement with Iran.
Market sentiment improved after the United States announced that Israel and Lebanon had agreed to a ceasefire, provided Hezbollah also ceased hostilities. This news helped ease some investor concerns about Middle East geopolitical risks that had previously driven up energy prices and inflationary pressures.
Several major European stocks also supported the index movement. LVMH rose 2.0%, L’Oréal gained 1.5%, Hermès added 1.9%, while SAP jumped 3.6%. On the STOXX 600, B&M European Value rose 6.5% and continued its gains for a second session, followed by Puma, which rose 5.9%, and Capgemini, which rose 5.4%, among the best-performing stocks.
Although European markets generally strengthened, pressure remained on global technology and semiconductor stocks after Broadcom's weak outlook weighed on sentiment toward the AI sector. ASML fell 0.2%, Infineon fell 2.8%, and STMicroelectronics plunged 3.5%. Meanwhile, Vivendi slumped more than 5% after Europe's second-highest court dismissed the company's lawsuit regarding EU allegations that it completed its Lagardère acquisition in 2023 before receiving regulatory approval. (asd)
Source: Newsmaker.id
