FX.co ★ European Stocks Reach New Highs

On Thursday, the STOXX 50 index climbed by 0.7%, and the STOXX 600 rose by 0.3%, achieving new record highs. The rise was largely attributed to the strong performance in technology and AI-related stocks. Investor sentiment was buoyed by Taiwan Semiconductor Manufacturing Company (TSMC), which announced a 35% increase in fourth-quarter profit, surpassing expectations and marking a new record due to continued robust demand for AI chips. ASML's shares saw a notable increase of over 7%, while Infineon's shares rose by 1%. Swedbank’s share price surged 4.4% following the conclusion of a US Department of Justice investigation without any charges. Additionally, Richemont’s stocks rose 0.7% as its sales results surpassed forecasts, and Hermes gained 2.5%. Concurrently, investors kept a close eye on geopolitical developments, particularly a meeting among officials from the US, Denmark, and Greenland in Washington, which concluded with a "fundamental disagreement" regarding Denmark’s sovereignty over Greenland.