European Shares Soar on Strong Tech and Economic Resilience

European shares advanced as favorable economic data highlighted resilience in the region's economy. Positive earnings from TSMC lifted tech stocks, with ASML reaching record highs. Swedbank rose after a U.S. investigation concluded, and Richemont's sales exceeded expectations, adding to the positive market sentiment.

European shares continued their upward trajectory on Thursday, buoyed by a wave of encouraging economic data that highlighted the region's robust economic health. Tech stocks surged, spurred by strong earnings from TSMC, which propelled ASML shares to a historic high.

The STOXX 600 rose 0.3% by 0805 GMT, building on its all-time high from the previous day. Technology investors welcomed surprising fourth-quarter profits from TSMC, the leading manufacturer of advanced AI chips.

The technology index was the standout performer in the STOXX 600, climbing 2.5%. ASML saw a notable 6.7% increase, while Swedbank's shares jumped 5.6% following the conclusion of a U.S. Department of Justice investigation. Meanwhile, Richemont rose 1% with its third-quarter sales surpassing forecasts. Additionally, Britain's economy showed stronger-than-expected growth and Swedish consumer prices rose in line with central bank targets, contributing to the market's positive sentiment.

(With inputs from agencies.)