{"id":176126,"date":"2025-10-02T22:49:09","date_gmt":"2025-10-02T22:49:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/176126\/"},"modified":"2025-10-02T22:49:09","modified_gmt":"2025-10-02T22:49:09","slug":"europe-stocks-close-at-record-high-on-tech-rally-hopes-for-fed-rate-cut","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/176126\/","title":{"rendered":"Europe: Stocks close at record high on tech rally, hopes for Fed rate cut"},"content":{"rendered":"

Investors are also watching any developments related to the US government shutdown<\/p>\n

[BENGALURU] European shares closed at a record high for a second session on Thursday (Oct 2), driven by a rally in industrials and chip-related stocks, while expectations of US interest rate cuts this month also buoyed sentiment.<\/p>\n

The pan-European Stoxx 600 index was up 0.5 per cent at its record close, having earlier also hit an all-time intraday high. Most regional bourses also climbed, with Germany leading gains with a 1.3 per cent increase.<\/p>\n

Industrial stocks were the biggest boost to the index, up 1.5 per cent, with heavyweights such as Siemens up 4.2 per cent and Schneider adding 2.3 per cent.<\/p>\n

Technology stocks rose 2.3 per cent, tracking gains in global chip-related stocks. Sentiment was further boosted after South Korea\u2019s Samsung Electronics and SK Hynix signed letters of intent to supply memory chips for OpenAI\u2019s data centres.<\/p>\n

ASML gained 4.3 per cent and ASMI jumped 6.5 per cent, pushing the main Dutch index to a record high.<\/p>\n

\u201cI see further room (for the rally) to run, judging from the breadth in the tech rally, as it\u2019s also the average tech stock participating as well,\u201d said Lale Akoner, global market analyst at eToro.<\/p>\n

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Autos climbed 2.4 per cent, boosted by an 8.3 per cent gain in Stellantis after market data showed an improved trend in new car sales for the group in Italy and the US.<\/p>\n

Ferrari gained 2.7 per cent after HSBC upgraded its rating on the Italian carmaker to \u201cbuy\u201d from \u201chold\u201d.<\/p>\n

Healthcare stocks extended their rally from the previous session after a US-Pfizer deal on prescription drug prices on Tuesday helped reduce some uncertainty in the sector.<\/p>\n

SEE ALSO<\/p>\n

\"The<\/a><\/p>\n

Investors are also watching any developments related to the US government shutdown, which could delay the release of Friday\u2019s key jobs data and heighten uncertainty around the Fed\u2019s ability to assess the state of the economy.<\/p>\n

Prospects of softer monetary policy by the Fed have been the latest catalyst for European stocks, with banks and industrials among the top-performing sectors so far this year.<\/p>\n

A weak private payrolls report on Wednesday has pushed market pricing for a 25-bps rate cut in October to 99 per cent, up from nearly 86 per cent a week ago, according to CME\u2019s FedWatch Tool.<\/p>\n

The Stoxx is up more than 11 per cent, underperforming the US S&P 500, which also hit record highs in the last session and is up 14 per cent for the year.<\/p>\n

Credit data company Experian slipped 4.2 per cent after Fico said that it was launching a cost-cutting direct licence programme for mortgage lending.<\/p>\n

Tesco gained 5.3 per cent after the British supermarket group raised its full-year profit forecast.<\/p>\n

Thyssenkrupp fell 4.1 per cent after Czech billionaire Daniel Kretinsky agreed to sell his 20 per cent stake in the company\u2019s steel unit and scrapped plans for a joint venture for the business. REUTERS<\/p>\n","protected":false},"excerpt":{"rendered":"Investors are also watching any developments related to the US government shutdown [BENGALURU] European shares closed at a…\n","protected":false},"author":2,"featured_media":117561,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[84,467,56,54,55],"class_list":["post-176126","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-markets","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/176126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=176126"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/176126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/117561"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=176126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=176126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=176126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}