The European STOXX 600 index closed up 0.2 percent, after the technology sector led the gains with a jump of 2 percent.
This reduced the sector’s weekly losses to six percent, but it remains the worst performing sector this week after weak expectations for sales in 2025 from ASML led to a decline in the shares of global chip manufacturers.
The shares of the computer chip equipment manufacturing company rose 1 percent today, while the shares of the two chip manufacturing companies (I made you happy) and (PE) for semiconductor industries, 5.6 and 2.8 percent, respectively.
The basic resources sector jumped 1.4 percent, driven by an increase Copper prices.
The luxury goods sector advanced 1.1 percent after a wave of selling earlier this week following weak third-quarter sales from LVMH.
The STOXX index hit record highs several times earlier this year, but has struggled to achieve any gains since mid-May with slowing economic growth and weak Chinese demand hampering investors, despite European stocks trading at cheaper valuations than their counterparts in the United States. .
“Europe’s particular weakness is that the economic downside appears much more severe than in the US, so the growth trend is slower and traders are more exposed to downside risks and shocks,” said Daniel Murray, vice president of investment and global head of research at EFGM. “.
