European equities extended their winning streak on Wednesday, closing sharply higher for a third consecutive session on the back of robust technology earnings. The Euro STOXX 50 advanced 1% to 6,393, while the STOXX Europe 600 climbed 0.7% to a record high of 663.1.
The technology sector led gains as it continued to rebound from last week’s selloff. Sentiment improved following stronger-than-expected results from US-based CoreWeave, which helped ease concerns that the elevated debt levels among AI companies could constrain further investment in the sector.
Siemens Energy also contributed to the upbeat mood, rising after surging data center demand boosted its margins in the latest quarter, lifting both profits and guidance. AI infrastructure suppliers benefited from the improved outlook, with ASML gaining 3.2% and Infineon jumping 6.4%.
Financials were another source of support. Banks extended their advance, with Deutsche Bank up 2% and ING adding 1.3%.