European Stocks Surge to New Heights Amid Tech and Financial Gains

European shares soared to a record high, driven by gains in the technology and financial sectors. The STOXX 600 index rose 0.5%, led by strong performances from chipmaker ASML and financial firms like Schroders. Positive economic data from Germany and diverse investment strategies further enhanced the market outlook.

European shares reached a record high on Thursday, propelled by strong performances in technology and financial stocks. The pan-European STOXX 600 index advanced by 0.5% to 614.57 points, buoyed by significant earnings updates and resilient economic indicators from Germany.

Technology stocks climbed 2.3%, reaching levels last seen in 2000, while financial services rose by 2.2%. Particularly notable was the 11.2% rise in ASML shares, surpassing a $500 billion market value, following robust earnings from TSMC, the major producer of advanced AI chips. Also boosting market sentiment, VAT Group reported better-than-expected Q4 results, pushing its shares up 14%.

Financials saw gains from British money manager Schroders and Swiss private equity firm Partners Group, with increases of 9.8% and 7.6%, respectively. The diversified growth and positive macroeconomic data underscore Europe's evolving market dynamics compared to the U.S., amidst challenges such as luxury sector losses and strategic industry shifts.

(With inputs from agencies.)