Tech Stocks Lead Gains Amid European Market Fluctuations

European stock markets saw a rise as tech stocks led gains despite a bleak outlook for the region's economy. The STOXX 600 rose 0.6%, driven by tech and offset by economic challenges such as reduced business activity. Geopolitical tensions continue to influence market dynamics.

On Friday, European markets experienced a surge largely driven by technology stocks, despite ongoing geopolitical tensions and concerning economic indicators. The STOXX 600 index advanced 0.6%, marking its second consecutive day of gains.

Rising uncertainty from geopolitical factors like the Ukraine-Russia situation, coupled with worries over U.S. policy under President-elect Donald Trump, have overshadowed the European markets in recent weeks. Over the past month, the STOXX has seen a decline of over 4%, while disappointing business activity data signals deeper economic concerns.

However, optimism from the tech sector offered some relief, with chip stocks leading a 1% rise. Meanwhile, individual companies like Games Workshop Group soared on positive forecasts, illustrating sector-specific resilience amidst broader market worries.

(With inputs from agencies.)