European Shares Surge to All-Time High, Glencore Leads Market Rally

European shares reached an all-time high, driven by an 8.3% rise in Glencore, boosting the STOXX 600 index. Despite weak earnings and geopolitical tensions, the market showed resilience. Technology, mining, and energy stocks led gains. Investors anticipate a U.S. jobs report and a Supreme Court ruling on Trump's tariffs.

European shares surged to an all-time high on Friday, buoyed by an impressive 8.3% increase in Glencore, positioning the STOXX 600 index for its longest weekly winning streak since May. This rebound, despite weak earnings reports and geopolitical tensions from U.S. actions in Venezuela, highlights investor resilience.

Glencore shares reached their highest point since July 2024, while Rio Tinto shares fell 2.6%. The drop in Rio shares follows its Thursday announcement of initial talks to acquire Glencore, a merger that could create the world's largest mining company. Technology, mining, and energy stocks led the charge, with increases of 1.8%, 1.7%, and 1.6% respectively.

Positive results from TSMC, the world's largest contract chipmaker, boosted technology stocks further. Meanwhile, investors await critical U.S. jobs data expected to reveal a slowdown in growth. Additionally, a pending U.S. Supreme Court ruling on the legality of President Trump's global tariffs could significantly impact market dynamics.

(With inputs from agencies.)