Germany's major stock index has surpassed 20,000 points for the first time, marking the fourth consecutive day of gains for European markets. The STOXX 600 index closed up 0.4%, achieving its longest daily winning streak since August. France's CAC 40 index increased by 0.3%.
Sectors such as construction and retail outperformed, while defensive sectors like telecom, real estate, and food & beverage lagged. ASML Holding saw its stock rise after reaffirming its net sales forecast for 2025.
Despite concerns over potential U.S. tariffs, geopolitical risks, and a sluggish regional economy, European stocks have been underperforming since peaking in September. French political instability adds to the worries, with a no-confidence vote scheduled among French lawmakers.
Measured in dollars, the benchmark STOXX 600 index has underperformed the S&P 500 by more than 25 percentage points this year, marking the largest gap of the century.
