Al-Thawra Net/..
European stocks rose today, Thursday, driven by gains in the technology sector after strong expectations issued by Micron and Qualcomm allayed concerns about high valuations in this sector, while the decline in oil prices provided additional support to the markets.
The European STOXX 600 index rose 0.27 percent to 636.88 points, according to Reuters.
The wave of rise in artificial intelligence stocks returned to the forefront after the two American chip manufacturers, Micron and Qualcomm, announced strong forecasts, which contributed to temporarily allaying investors’ fears that the rise in global stocks related to artificial intelligence had reached exaggerated levels.
Shares of European technology companies rose 1.7 percent, topping the index’s gains. Shares of European technology companies rose 30 percent during the quarter.
Shares of chip manufacturers Infineon and S.P.S. T. Microelectronics rose 3.7 percent, and shares of semiconductor equipment suppliers BA Semiconductor and ASML rose by more than 3.5 percent each.
Siemens Energy, a maker of artificial intelligence equipment, rose 1 percent.
The continued decline in oil prices contributed to supporting investor sentiment, with more stranded oil tankers exiting the Strait of Hormuz.
