The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings.
Chip stocks rebounded from sharp losses the previous day, supported by upbeat results from TSMC. Notable gains included ASML Holding (+2.7%), Infineon Technologies (+2%), and STMicroelectronics (+3.7%). ABB jumped more than 7% after reporting record order intake and Volvo added 0.7% after reporting better-than-expected earnings, with signs of recovery in Europe helping to offset weak truck demand in North America.
Swedbank climbed 1.6% following strong quarterly results. On the downside, easyJet tumbled over 6% after warning that worsening air traffic control delays and rising fuel prices would weigh on full-year profits.
Meanwhile, Novartis shares fell nearly 2%, even though the Swiss pharmaceutical giant beat profit expectations and announced a $10 billion share buyback.
Source: Trading Economics
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