European stocks reach new peak on company results
European stocks rose to new all-time highs at the close of today's trading session, supported by strong company earnings and gains in technology stocks. The Stoxx 600 index increased by 0.3%, closing at 660.25 points, marking the highest closing level for the fourth consecutive session, with ongoing weekly gains. The rise in corporate profits, including a more than 22% increase in London Stock Exchange Group's earnings in the second quarter, boosted sentiment and fueled expectations of a potential agreement between the United States and Iran. Such an agreement could ease energy supply risks and support economic growth. Technology sector stocks and healthcare sector sales were among the biggest gainers, while some companies, such as Kingspan, saw the largest rises after raising their full-year profit forecasts. Conversely, some stocks like Czech Spolgas Group declined despite good revenue, amid expectations that U.S. economic data trajectories may lead to adjustments in Federal Reserve interest rate hike forecasts, as inflation remains above target.
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