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European tech stocks hit new high
European stocks reached a record high during Friday's trading session, led by the technology sector, which gained 2.2% amid improved demand for AI company shares. The STOXX 600 index rose by 0.9% to 655.2 points, marking its fourth consecutive month of gains. Support for the market came from a more than 1% decline in oil prices, with Brent crude remaining below $90, amid increased shipments through key maritime routes, despite tensions in the Middle East and their limited impact. This comes amid the European earnings season, during which many companies announced strong quarterly results, although some stocks, such as Melrose Industries, declined due to expectations of rising costs.
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