European Stocks Surge to New Record High

European stocks soared to a new record high on Thursday, buoyed by a robust performance in global equities, notably with Japan’s Nikkei index reaching unprecedented levels.

The European STOXX 600 index surged to 495.77 points, surpassing its previous peak of 495.46 points set in January 2022. This surge was fueled by unexpectedly strong revenue projections from American chip giant NVIDIA, which bolstered global market sentiment.

During the latest trading session, the index surged by approximately one percent, marking a four percent increase year-to-date, following a remarkable 10 percent surge last year.

Global markets continue to benefit from the overall strength of the global economy, coupled with expectations of potential interest rate cuts by major central banks later in the year.

In Asia, Japan’s Nikkei index reached an all-time high on Thursday, further underlining the positive sentiment in global equities.

Meanwhile, the US Standard & Poor’s 500 index has already attained record levels, driven by gains in shares of major technology companies. European stocks, however, have trailed behind, trading at comparatively lower price-to-earnings ratios.

Key Highlights:

• European stocks achieve new record high, propelled by global market strength.
• European STOXX 600 index reaches 495.77 points, surpassing previous peak.
• NVIDIA’s strong revenue projections contribute to market optimism.
• Year-to-date, the index has surged by approximately four percent.
• Global markets buoyed by robust global economic outlook and expectations of future interest rate cuts.
• Japan’s Nikkei index also reaches all-time high, reinforcing positive sentiment in equities.
• US S&P 500 index already at record levels, led by gains in tech stocks.
• European stocks lag behind, trading at relatively lower price-to-earnings ratios.