Europe's STOXX 600 on track for biggest quarterly gain in over five years on AI boost
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The pan-European STOXX 600 index was up 0.6% at 639.77 points, as of 0804 GMT. The benchmark index is poised for a third consecutive monthly gain, and has climbed 9.7% for the quarter, its strongest quarterly performance since October 2020. Technology stocks rose 1.7% and were set for their strongest quarterly gain since October 2001, underscoring robust demand for AI infrastructure. The sector is also on track to outperform its Wall Street counterpart this month and quarter. Lithography giant ASML rose 3.33% on Tuesday, while chipmakers STMicroelectronics and Infineon added 3% and 2.7%, respectively. Shares of Siemens Energy added 5% after the AI-equipment maker reiterated strong demand trends at a pre-close quarterly earnings call on Monday. Signs of easing Middle East tensions have also been a key driver this quarter as prices of oil, a key resource for energy-deficient Europe, slipped to pre-Iran-war levels. Abivax jumped more than 20% after the drugmaker reported positive topline results for its obefazimod study. The broader healthcare sector gained 0.9%. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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