Tech Stocks Boost European Markets Amid Middle Eastern Tensions

European shares rose on choppy trading with technology stocks rebounding as investors assessed Middle Eastern conflicts. The STOXX 600 index climbed 0.4%, led by tech gains. Concerns eased temporarily despite U.S.-Iran tensions impacting crude prices and economy. AstraZeneca fell following a drug trial setback.

European shares experienced a volatile trading session on Thursday, significantly influenced by a resurgence in technology stocks. Investors assessed the impact of ongoing tensions in the Middle East following U.S. President Donald Trump's statement about Iran's desire to negotiate a deal.

The pan-European STOXX 600 index saw a 0.4% increase to 638.66 by 0710 GMT, with technology shares among the leading gainers, rising 1.6%. Notably, chip manufacturers such as Siltronic, Soitec, and ASML posted significant gains, suggesting a temporary easing of investor concerns about tech market valuations.

Globally, sentiment was buoyed by reports that China might permit local AI firms selective access to Nvidia's H200 chips, potentially spurring demand for AI infrastructure. Meanwhile, Spanish stocks outshone their European counterparts, increasing by 0.9%, as investors reacted to President Trump's remarks on Spain's NATO contribution. Contrastingly, AstraZeneca shares tumbled after a critical medication failed in late-stage trials.