FX.co ★ European Stocks Close Sharply Higher

European stocks concluded Wednesday's trading session with significant gains, mirroring robust performance in equities across major economies. This uptick is fueled by the anticipation of another interest rate cut by the Federal Reserve within the year, coupled with prospects of a ceasefire between Ukraine and Russia. The technology sector experienced notable increases, with ASML and Infineon advancing by 5.7% and 3.6%, respectively. Despite persistent uncertainties in the US AI sector, there is growing speculation that Alphabet's tensor processing units might attract Nvidia's clientele, somewhat tempering projections for datacenter infrastructure. Meanwhile, the banking sector also reported gains, buoyed by another favorable session for Eurozone bonds, with institutions like Santander, BBVA, Intesa Sanpaolo, and ING all posting increases exceeding 1.5%.