European Shares Surge Amid Tech Lift and U.S.-China Talks
European stocks rose, driven by technology shares, despite global tensions over U.S.-Iran peace talks and the U.S.-China summit. The STOXX 600 increased by 0.4%, while Germany's DAX gained 1.2%. Key industry developments in AI and tech are propelling growth, although market cautiousness persists.
On Thursday, European shares saw an uptick, primarily buoyed by technology stocks, even as stalled peace talks between the U.S. and Iran alongside a pivotal U.S.-China summit left investors wary.
The pan-European STOXX 600 index advanced by 0.4% to 613.98 points as of 0834 GMT, following a 0.8% rise on Wednesday. Despite some local markets being closed for holidays, trading volumes remained relatively light. Germany's DAX index was up 1.2% as official data revealed a 0.3% unexpected growth in Britain's economy in March, leaving the FTSE 100 largely unchanged.
Amidst these developments, the focus on AI technology continues to drive investments, contributing to a rebound in U.S. and global shares that have reached record highs. However, European equities remain below pre-war benchmarks, demonstrating a cautious investor sentiment in light of ongoing geopolitical issues.
(With inputs from agencies.)
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