European markets traded broadly higher on Thursday, lifted by Nvidia’s (NASDAQ:NVDA) strong quarterly results and upbeat outlook, which helped cool fears of an overheating AI sector.
The major indices moved firmly into positive territory: Germany’s DAX climbed 1.1%, France’s CAC 40 advanced 0.9%, and the U.K.’s FTSE 100 added 0.7%.
Tech stocks led the charge, with ASML Holding (EU:ASML) jumping almost 2% after investors responded positively to Nvidia’s numbers.
Valneva (EU:VLA) also surged after the French vaccine maker reaffirmed its upgraded full-year guidance alongside improved nine-month revenue.
Airbus (EU:AIR) traded higher as well, after initiating the second tranche of its previously announced share buyback program.
Halma (LSE:HLMA) posted one of the session’s stronger gains, with shares rising sharply following record first-half results and an upgraded full-year outlook.
Wind turbine manufacturer Nordex (TG:NDX1) climbed after securing a new contract for 12 N133/4.8 turbines for Ireland’s Drumnahough Wind Farm.
AstraZeneca (LSE:AZN) also advanced after the FDA expanded the approved use of its drug Koselugo to adult patients.
Not all stocks participated in the rally.
Mitie Group (LSE:MTO) fell after announcing the acquisition of a specialist engineering firm.
Johnson Matthey (LSE:JMAT) dropped following changes to its leadership structure and a decline in interim earnings.
JD Sports (LSE:JD.) also traded sharply lower after cutting its profit forecast.
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