Europe stocks close higher after a global rout fueled by China AI concerns
European stocks closed higher Tuesday, in the wake of a global sell-off fueled by concerns over a potential artificial intelligence breakthrough in China that could pose a massive challenge to Western AI firms.
The pan-Europe Stoxx 600 index gained 0.5%, with the real-estate sector and utilities leading gains, both up by 1.1%. Consumer staples rose up by around 0.9%.
Biopharmaceutical firm Sartorius was the top performer on the index, gaining 11.5% after the company said in a preliminary full-year release that it had met profitability targets and had a “cautiously positive” outlook for 2025.
Source: CNBC