21.07.202615:37:37UTC+00European Stocks Gain Traction

European stocks finished higher on Tuesday, supported by a rebound in the global AI sector as investors positioned themselves ahead of key earnings releases. The Euro STOXX 50 rose 0.9% to 6,829, while the STOXX Europe 600 advanced 0.5% to 643.

Chip-related stocks led the gains: ASML climbed 4.7% and Infineon jumped 6.8%, mirroring advances in semiconductor-exposed companies worldwide after strong export data from South Korea and Taiwan reignited speculative interest in the sector. Siemens Energy, seen as a beneficiary of rising power demand from data centers, added 4%.

In the banking sector, UniCredit and BNP Paribas each gained 1.5% ahead of their earnings reports due on Wednesday. Outside the Eurozone, Novartis rose 2.1% after exceeding earnings expectations, though the pharmaceutical group refrained from raising its guidance due to looming patent expirations.

The upbeat tone in equities persisted despite another sharp increase in European natural gas prices, as the conflict in the Middle East continued to disrupt LNG shipments to the region.