Global Market: European stocks edge higher, tech shares lead gains

European shares rose on Tuesday, supported by gains in technology stocks, although higher oil prices and elevated bond yields limited the advance.

The pan-European STOXX 600 index was up 0.3% at 640.28 points by 0719 GMT, according to Reuters.

Technology stocks were among the strongest performers, with semiconductor shares gaining after Reuters reported that Anthropic is making a major bet on artificial intelligence transforming the global economy. The AI company is also looking to public investors to help finance its expansion, with its planned offering expected to value the company at more than $2 trillion.


Also Read | Global Market: RoboTechnik slides below IPO price in weak Hong Kong debut

The broader market remained constrained by rising crude prices, as the absence of a breakthrough in the Middle East conflict kept energy markets under pressure. Brent crude futures stood at $106.99 a barrel, Reuters reported.

Higher bond yields also weighed on investor sentiment, as markets assessed the implications of stronger growth and elevated energy costs for the global interest-rate outlook.

Investors were awaiting U.S. job openings data later on Tuesday for further clues on the strength of the labour market. Markets were also due to receive the final reading of euro zone consumer confidence.

Also Read | Global Market: Nikkei falls as oil surge, global bond selloff rattle markets

Among individual stocks, Legrand climbed 5.8% after the French electrical and digital building infrastructure company raised its medium-term targets.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)