European equities traded cautiously on Thursday, with both the STOXX 50 and STOXX 600 edging up just 0.1%, as renewed concerns over stretched AI-related valuations weighed on sentiment. Even so, European markets outperformed their Asian and US peers, helped by the region’s relatively limited exposure to the technology sector.
Technology shares were under pressure, with ASML Holding down 2.3%, Infineon Technologies off 2%, and STMicroelectronics losing 1%. Other notable decliners included HSBC (-1%), Schneider Electric (-1.3%), and Siemens Energy (-2.8%).
By contrast, healthcare stocks advanced. AstraZeneca gained 1.6% and Sanofi rose 1.8%, while Bayer jumped more than 4% after announcing plans to consolidate its US Roundup business into a new standalone unit named Ruveon.
In other moves, LVMH climbed 1.6%, UniCredit added 1%, and Sodexo surged 7% to top the STOXX 600 after raising its full-year organic revenue growth guidance.
