STOXX 600 Closes at All-Time High
European stocks closed firmly higher on Wednesday, extending their strong momentum this week with support from strong corporate earnings as markets continued to assess the outlook for ECB borrowing costs and the impact that trade barriers by Trump may have on European corporate returns.
The Eurozone’s STOXX 50 added 0.8% to close at 5,206, its highest since 2,000, and the STOXX 600 rose 0.4% to extend its record high to 528.
Adidas led the gains with a 6% surge after signaling strong revenues and earnings growth during the fourth quarter, prompting JPMorgan, BNP Paribas, Exane, and Oddo to raise their recommendations. Additionally, tech giants gained on new of large AI-investment projects in the US, lifting ASML by over 2% each.
In turn, US President Trump said the EU 'in for tariffs' and mentioned a 10% levy on Chinese imports, which could take effect as early as February 1st.
Source: Trading Economics