European Stocks Surge Amid Pernod Ricard Earnings; Nvidia Calms AI Demand Fears
European stocks climbed boosted by Pernod Ricard's strong earnings and Nvidia's results easing AI demand concerns. The STOXX 600 rose 0.3%, driven by French spirits and semiconductor stocks' mixed performance. Geopolitical tensions and French political unrest also influence market dynamics amidst AI growth and policy uncertainties.
European stocks experienced an upswing on Thursday, thanks to Pernod Ricard's robust earnings and Nvidia's encouraging results, which alleviated concerns over waning artificial intelligence demand. At 0812 GMT, the pan-European STOXX 600 index showed a 0.3% increase, standing at 556.52.
Pernod Ricard surged 6.9% following its report of a smaller-than-anticipated dip in annual sales and profits, coupled with an optimistic outlook for the latter half of 2026. This uplift also benefited Remy Cointreau and LVMH, with their shares rising nearly 4.1% and 4.4% respectively, pushing the CAC 40 index up by 1%, recovering from earlier declines.
However, Europe's semiconductor stocks presented a mixed picture as investors analyzed Nvidia's data center forecast, which slightly underperformed some expectations. While Infineon and ASM International saw gains, ASML declined, and BESI remained stable. Nvidia's exclusion of potential China sales due to geopolitical uncertainties underscored the increasing government oversight and trade restrictions impacting AI growth.
(With inputs from agencies.)
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