European Stocks Close the Week Higher
European stock markets closed higher on Friday (May 22nd), with the STOXX 50 up 0.7% and the STOXX 600 up 0.6%, driven by momentum in the technology sector. Investors continued to shift toward AI-related companies after positive signals from Asian markets. ASML Holding shares rose 2.5%, Infineon added 4.3%, and STMicroelectronics jumped 3.9%.
The luxury goods sector also performed strongly after Richemont reported better-than-expected annual sales, pushing its shares up 2.3%. Other companies, including LVMH (+1.4%), Hermès (+0.7%), and L’Oréal (+0.4%), confirmed investor interest in the premium segment.
However, investors remained cautious as the conflict in Iran continues to weigh on sentiment and add to uncertainty in global markets. Oil prices and geopolitical exposure remain key risk factors influencing investment decisions in Europe.
On a weekly basis, both the STOXX 50 and STOXX 600 recorded gains of around 2.3%, supported by optimism that the US and Iran could reach a deal to ease tensions, potentially reopening energy routes through the Strait of Hormuz. (asd)
Source: Newsmaker.id
