Tech shares power Europe's STOXX 600 to record high

European shares hit a record high, driven by improving investor appetite for tech shares and buoyed corporate earnings, despite central bank decisions and Middle East hostilities.

European shares hit a record high on Friday, powered by improving ‌investor appetite for tech shares globally, while corporate earnings buoyed markets through a week of central bank decisions and Middle East hostilities.

The pan-European ‌STOXX 600 index was up 0.9% at 655.2 by 0712 GMT, ‌on track for its fourth month of gains. Tech stocks on the STOXX 600 jumped 2.2%, tracking Asian peers as demand for AI-linked stocks improved from ⁠earlier this week. ​Soitec added ⁠7.2%, Infineon Technologies was up 7% and ASML inched 3.5% higher.

On the other hand, ⁠a more than 1% dip in oil prices helped, with Brent contained ​below $90 a barrel. More supplies flowing through a crucial chokepoint offset ⁠a lack of major breakthroughs in the U.S.-Iran conflict. Earnings were in full swing ⁠in ​Europe.

Melrose Industries dropped 9.3% to the bottom of the STOXX 600 after the GKN Aerospace owner said it expects additional costs ⁠of £25 million to £30 million ($33.6 million to $40.3 million) in the second half ⁠of 2026 ⁠after an incident at its Garden Grove facility in California in May. Credit Agricole gained 4.5% after posting better-than-expected ‌second-quarter earnings.