Technology Stocks Lift European Stocks into the Green Zone
European stock markets rallied on Tuesday (June 30th), closing the second quarter with solid performance. The STOXX 50 index rose 0.6%, while the STOXX 600 gained 0.9%, driven by gains in technology stocks amid renewed optimism about the artificial intelligence (AI) sector.
This positive sentiment emerged after technology stocks had previously experienced selling pressure. Hopes for improving demand also boosted gains in several large companies, such as ASML Holding, which rose 3.2%, Infineon Technologies, which rose 2.4%, and STMicroelectronics, which rose 2.7%.
Large European industrial stocks also gained. Siemens rose 2.4%, ABB rose 1.9%, and Schneider Electric added 2.6%. Meanwhile, Siemens Energy surged nearly 5% after reaffirming strong demand trends in its pre-close quarterly earnings report on Monday.
Throughout June, the STOXX 50 index rose around 3% and recorded a gain of around 12% during the second quarter. Meanwhile, the STOXX 600 gained 1.6% this month and rose around 9% throughout the quarter, marking its strongest quarterly performance since October 2020. (asd)
Source: Newsmaker.id