FX.co ★ European Stocks Extend Gains to Fresh Highs

European stocks continued their upward trajectory on Friday, with the STOXX 50 climbing 0.4% and the STOXX 600 increasing by 0.3%, reaching new record highs. This surge was largely driven by global investor enthusiasm surrounding artificial intelligence. Additional momentum was provided by new industrial collaborations, such as Hitachi's alliance with OpenAI and Fujitsu's partnership with Nvidia. Meanwhile, investors kept a close watch on developments concerning the potential US federal government shutdown, which has yet to significantly impact the markets. Leading the charge in gains were sectors such as basic resources, banking, automotive, and financial services, whereas technology stocks faced challenges in remaining positive. For the week, the STOXX 50 has seen a 1.5% increase, while the STOXX 600 has risen 2.4%, marking its most robust weekly performance since April.