European stocks outperformed other global markets on Thursday, as a wave of robust corporate earnings drew in investors amid renewed concerns over the artificial intelligence trade. The Stoxx Europe 600 Index closed 0.8% higher, with market sentiment lifted by reports that the Trump administration is involved in ongoing negotiations aimed at reaching a temporary peace agreement with Iran. Data showing the U.S. economy grew at its fastest pace in a year during the third quarter also provided support for equities.
Shell rose 2.1% after the oil giant reported its second-highest profit in the company's history. Airbus gained 2.3% after maintaining its full-year aircraft delivery targets and financial outlook unchanged. Financial services, construction, and automotive sectors led the gains, while consumer staples and mining stocks lagged. Banking shares also underperformed, with Banco Bilbao Vizcaya Argentaria falling 2.6% following its earnings release, offsetting gains posted by Societe Generale after its own results.
The advance in European equities stood in stark contrast to the decline in U.S. stock indices, which were dragged down by weakness in technology shares. Disappointing results from Alphabet reignited concerns over massive AI spending, pushing the Nasdaq 100 Index down roughly 1.4%. Asian markets had also closed lower earlier, following a lackluster earnings report from Samsung Electronics.
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