European stocks extended morning gains and closed sharply higher on Thursday, trimming the losses from the prior two sessions with support from a batch of earnings, while markets continued to gauge the impact that the new Republican-led US government may have on the global corporate sector.
The Stoxx 50 added 1.9% to close at 4,830, and the Stoxx 600 rose 1.1% to close at 507. ASML, the Stoxx 50's heaviest company, soared 7% after the company forecasted sales to grow by 8% to 14% over the coming five years.
Also, Siemens added 4.9% after posting a higher-than-expected profit although it lowered its sales outlook for 2025 amid geopolitical uncertainty. In turn, banks, luxury, utilities, and energy producers also closed sharply higher. Regarding the Stoxx 600, Burberry jumped 19% after unveiling an overhaul strategy to trigger a rebound in sales.
Source : Trading Economics
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