European Markets Soar Amidst Tech and Healthcare Rally

European shares reached new highs driven by strong earnings in technology and healthcare, particularly from Novartis. The STOXX 600 index rose 0.4%, supported by the European Central Bank's interest rate cut. Concerns remain over economic recovery amid global market fluctuations and geopolitical trade tensions.

European shares hit an all-time high on Friday, as technology and healthcare stocks led the rally. Major players like Novartis posted robust earnings, overshadowing worries about a fragile economic recovery.

The STOXX 600 index saw a 0.4% increase by 0950 GMT, maintaining its record high reached on Thursday. This came on the heels of the European Central Bank's decision to cut interest rates and adopt a dovish outlook. The technology sector saw a boost, with Hexagon jumping 7.6% due to better-than-expected fourth-quarter profits, while ASML contributed a 3% gain.

Despite general market gains, concerns linger about economic growth after global markets faltered earlier in the week. The ECB's rate cuts reflect a focus on sustained support, even as some sectors, like telecommunications, face challenges.

(With inputs from agencies.)