European stocks were on track to hit a new record high for the first time in more than two years as the semiconductor sector got a fresh boost from Nvidia's sparkling results.
Stoxx Europe 600 Index XX:SXXP,
Which represents a continent-wide list of the largest stocks, at one point in morning trading on Thursday rose 1% to 495.81, surpassing the previous record close of 494.35 set on January 5, 2022.
News overnight that US chipmaker Nvidia, NVDA,
Beating high earnings expectations has sparked another wave of buying in Europe's technology sector.
Among the biggest gainers was Netherlands-based BESI Semiconductor Industries.
The semiconductor assembly equipment maker, whose shares jumped 17% as it also reported a surge in demand for artificial intelligence.
Likewise, ASML ASML shares listed in the Netherlands,
The stock of one of the world's largest chip equipment manufacturers rose 4%, while the stock of Paris-listed chip maker STMicroelectronics STMPA rose.
Its stock rose 4%, and its Frankfurt-listed counterpart, Infineon Technologies IFX,
He added 4%.
Germany's DAX and France's CAC 40 FR:PX1 have been in record territory for a while, with the Paris Stock Exchange providing payment through a raft of popular luxury goods groups such as LVMH MC,
And Caring Care,
There was more immediate support coming on Thursday from German car groups, with Mercedes-Benz MBG,
Shares rose nearly 5% and are leading the sector charge after it raised its dividend and expanded its buyback program.
Other index stocks rose on Thursday, including London-listed pharmaceutical company Indivior INDV and Indivior INDV.
Which rose 20% after it turned to a pre-tax profit in the fourth quarter and said it was considering moving its primary listing to the US in 2024.
rolls royce rr,
Shares jumped 7% to a record high after the aerospace and defense company delivered results that beat expectations.
However, Nestle NESN shares weighed on the SXXP index,
Which fell more than 4% after the world's largest food company gave a pessimistic sales forecast.
