European stocks hit record high as STOXX 600 touches 656.85 on earnings and tech rally
European equities pushed to record highs as tech and semiconductor strength, alongside supportive earnings updates (notably Bayer's profit beat and an upgrade-driven rally in BE Semiconductor), outweighed geopolitical overhangs. Chip names across the region rose on improved sentiment around AI-driven demand, while mining tracked firmer metals. Retail lagged after negative guidance, and airlines sold off on higher fuel costs, highlighting sector dispersion.
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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European shares set a fresh record, with the STOXX 600 briefly reaching 656.85. Bayer rose 3% after reporting an unexpected 1.9% increase in quarterly operating profit. BE Semiconductor jumped 5.6% after Berenberg upgraded the stock to “buy,” helping lift European chipmakers including ASML, Soitec and Infineon. Retail stocks fell 2.6%, while energy shares gained 1.1% as oil prices rebounded.