European shares gain as upbeat data and strong earnings lift sentiment

European shares extended gains on Thursday as a slew of benign economic data suggested resilience in ‌the region's ‌economy, while strong earnings from TSMC boosted top chip equipment ‌maker ASML to a record high.

The pan-European STOXX 600 rose 0.3% by 0805 GMT, after hitting an all-time high a day earlier.

Tech investors cheered earnings from TSMC, the world's main producer of advanced AI chips, which posted a stronger-than-expected fourth-quarter ‌profit.


The ‍European technology index climbed 2.5% and ‍was the biggest gainer in the STOXX 600. ‌ASML was last up 6.7%

Shares of Swedbank also jumped 5.6% after the U.S. Department of Justice ended its longstanding investigation into the bank.

Meanwhile, Richemont was up 1% after the luxury group reported an 11% increase in ‍third-quarter constant currency sales, beating expectations.

While investors have mostly focused on corporate cues ‍this week, macroeconomic ⁠data also ⁠added to the upbeat tone on Thursday.

Britain's economy grew more strongly than expected in November, data showed.

Separately, consumer prices in Sweden, measured with a fixed interest rate, rose 2.1% in December, compared with the same month a year earlier, in line with the central bank's target. (Reporting by Niket Nishant in Bengaluru; Editing by Rashmi Aich)