Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Europe open: Stoxx joins Nikkei and hits record high as global equities surge

(Sharecast News) - European shares hit record levels at the open on Thursday, driven by a rally in global equities that saw Japan's blue-chip Nikkei index also reach an all-time high. The pan-European Stoxx 600 index rose 1% to 495.77, beating the 495.46 points reached in January 2022. Investors are still punting on interest rate cuts this year as inflation starts to ease.

Sentiment was also boosted overnight after better-than-expected guidance by US semiconductor chip giant Nvidia.

Japan's Nikkei beat the previous record set in 1989, closing at 39098.68.

"It seems not even fresh caution from central bankers will curb the enthusiasm on Wall Street which is emanating to other indices," said Hargreaves Lansdown analyst Susannah Streeter.

"With Nvidia again beating forecasts, its stellar results are providing a rising tide, lifting other semi-conductor stocks. UK chip designer Arm surged in after-hours trading, and California based Advanced Micro Devices (AMD) also clawed back lost ground."

"While budget may be being trimmed elsewhere, companies are ringfencing money to beef up their future AI capabilities, with the fear of missing out on this revolutionary technology front and centre."

In equity news, Indivior shares surged after full-year results. The pharma company also announced plans to ditch its London listing in yet another blow to the British capital's reputation as a financial centre.

Nestle fell 3.7% after the food giant reported lower than expected full-year sales as inflationary pressures weighed on consumer demand.

Reporting by Frank Prenesti for Sharecast.com

Share this article

Related Sharecast Articles

London close: Footsie hits another record, but BoE comments limit gains
(Sharecast News) - A weak performance from the heavyweight mining sector wasn't enough to stop the FTSE 100 from reaching a new record high on Tuesday, as London's blue-chip index rose for the fifth straight day.
Broker tips: HSBC, Reckitt Benckisser, Watches of Switzerland
(Sharecast News) - Citi said on Tuesday that it remains 'overweight' UK banks, with HSBC one of its top picks.
Director dealings: Porvair CFO raises stake
(Sharecast News) - Porvair revealed on Tuesday that chief financial officer James Mill had acquired 4,250 ordinary shares in the London-listed filtration and environmental technology group.
Europe close: Stocks rise as investors digest PMI data
(Sharecast News) - European markets closed above the waterline on Tuesday, propelled by positive survey data from the eurozone that bolstered investor sentiment.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.