European Markets Soar Amid Strong Tech and Financial Earnings

European shares hit new highs driven by strong corporate earnings in technology and finance. The STOXX 600 index rose, with technology and financial stocks performing well. ASML achieved a $500 billion market cap. Luxury stocks fell, and the European energy index declined. Britain's economy outperformed expectations.

European shares reached unprecedented levels on Thursday, bolstered by robust corporate earnings in the technology and financial sectors. The STOXX 600 index increased by 0.4% by mid-morning. Technology stocks surged by 1.8%, marking their highest point since 2000, and financial services rose by 1.3%.

ASML, a leading chip equipment manufacturer, exceeded a market valuation of $500 billion after a 5.2% share price jump, driven by strong earnings from TSMC, a key AI chip producer. Shaan Raithatha of Vanguard emphasized Europe's potential role in AI infrastructure despite certain bottlenecks.

Financials rallied with positive reports from Schroders and Partners Group, which saw significant gains. However, luxury stocks such as Richemont and Swatch experienced declines. The European energy index dipped due to reduced oil prices after lessened U.S.-Iran tensions. Overall, Europe's economic data added to the market's positive sentiment.

(With inputs from agencies.)