FX.co ★ European Stocks Close Higher

European stocks experienced a significant uptick on Thursday, following a global recovery in major equity markets. This improvement was largely driven by robust earnings from Nvidia, which eased fears about the overvaluation of tech stocks. Nvidia surpassed Wall Street's profit expectations and asserted that there is no bubble in AI-related stocks, sparking a renewed appetite for risk among investors. European companies linked to datacenter infrastructure saw substantial gains, with firms like Siemens, Schneider, and ASML closing the day positively. Meanwhile, BNP Paribas led the banking sector, thanks to its announcement of a new stock buyback program and an increased target for its CET1 ratio to 13% by 2027. Conversely, Novartis saw a 2% dip despite raising sales forecasts for two major oncology drugs.