03.02.202608:35:35UTC+00European Stocks Extend Gains to Record Levels

The STOXX 50 and STOXX 600 indexes witnessed a 0.7% increase on Tuesday, building upon approximately a 1% rise from the previous day and achieving new record levels. This upward movement was primarily driven by mining stocks, which gained momentum following a recovery in precious metals after a significant sell-off. Additionally, investors assessed new corporate developments, while France's inflation rate, reported at 0.3%, came in below expectations, marking the lowest level since 2020. Noteworthy performers included Fresnillo (+4.5%), Boliden (+3.9%), ThyssenKrupp (+3.8%), Anglo American (+2.5%), and Antofagasta (+3.0%). Leading companies such as ASML Holding (+1.4%), Siemens (+2.0%), SAP (+1.5%), Banco Santander (+1.6%), ABB (+1.8%), and UBS (+1.6%) also recorded significant gains. On the other hand, shares of Orsted remained relatively static following its agreement to sell its European onshore business to the Danish investment firm Copenhagen Infrastructure Partners. Publicis, however, experienced a decline of over 4% due to results that fell short of investor expectations.