stocks

Published on
12/02/2026 – 14:57 GMT+1

European shares extended gains to new highs by early afternoon on Thursday, as strong corporate earnings from luxury and industrial groups fuelled a broad rally across the region’s equity markets.

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The pan-European STOXX 600 was up about 0.5% to 624.67 points by midday, holding near the all-time high level as investors digested a heavy slate of earnings updates.

Major benchmarks also hovered near record levels, with France’s CAC 40 up more than 1.4% on the day and London’s FTSE 100 trading around a record intraday high near 10,535 points.

Luxury stocks were among the biggest drivers of gains, with the sector rising about 1.5%.

Shares in Hermès climbed to a near one-month high after the French fashion house reported stronger-than-expected quarterly sales, backed by robust demand in the United States and Japan.

The results helped lift sentiment across the high-end consumer segment, which has faced concerns over slowing growth in China and more cautious spending among middle-income shoppers.

AI-adjacent industries jump

Industrial companies linked to artificial intelligence and data-centred demand were another key pillar of the rally.

French electrical equipment maker Legrand jumped about 5.8% after reporting strong demand tied to data-centre projects.

German engineering giant Siemens also rose sharply, climbing more than 6% after raising its full-year profit outlook, citing strong orders linked to AI-driven automation and digital infrastructure.

Analysts say the surge in AI-related industrial stocks reflects expectations that global spending on data centres, automation and electrification, will continue to accelerate as companies invest heavily in artificial intelligence capacity.

Stronger-than-expected corporate earnings updates were seen as the main catalyst for the rally.

Broader market sentiment was also supported by a robust US jobs report, which eased concerns about a slowdown in the world’s largest economy and reinforced expectations that growth will remain steady.

Feb. 6 (UPI) — The Dow Jones Industrial Average surpassed 50,000 points for the first time in its history as most blue-chip stocks gained during trading Friday.

The Dow set a new record of 50,115.67 after posting an average gain of 1,207 points and 2.4%, while 28 of 30 blue-chip stocks rose in value during the day’s trading.

The Dow’s record day caused it to post a 2.5% gain for the week.

NVIDIA led the charge with a 7.87% gain while closing at 185.41 after rising 13.53 in value, and Caterpillar posted a 7.04% gain after rising 47.74 in value and closing 726.2.

Investors credited the nation’s economy and significant corporate earnings with spurring the day’s gains after overcoming an emotionally driven selloff earlier in the week, The Wall Street Journal reported.

“Emotional deleveraging selloffs, such as this week, are unnerving,” Mark Hackett, chief market strategist at Nationwide, told the news outlet.

Despite the earlier selloff, Hackett said the “macro and earnings environment remain encouraging.”

In addition to the Dow gains on Friday, investors spurred a 1.97% gain for the S&P 500, which rose 133.90 points and closed at 6,932.30.

The Nasdaq Composite also posted a significant gain by rising 2.18% and 490.63 points to close at 23,031.21 for the day.

Despite the gains on Friday, the S&P 500 was down a slight 0.1% and the Nasdaq 1.8% for the week.

Investments by tech firms in artificial intelligence generally fueled the day’s gains.

“We’re in a gold rush right now with AI,” Falcon Wealth Planning founder Gabriel Shahin told CNBC.

“You have the investment that Google is making, Nvidia is making, that Meta is making [and] that Amazon is making,” Shanin said. “There is money that will be deployed.”

He said investors are moving away from growth stocks and favoring those that provide value amid a “great recalibration.”

South Korean stocks shot up by the most in six years Tuesday, rebounding from the previous session’s deep trough, as investors brushed off concerns over the newly nominated Federal Reserve chair and went bargain hunting. The Korean won also rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 338.41 points, or 6.84 percent, to close at a new high of 5,288.08, a sharp upturn from the previous day’s plummet.

It marked the steepest daily increase since March 24, 2020, when the index rose by 8.6 percent, according to data provided by the Korea Exchange (KRX), South Korea’s main bourse operator.

Trade volume was heavy at 666.5 million shares worth 29.3 trillion won (US$20.3 billion). Winners outnumbered losers 825 to 75.

Strong buying demand triggered the KRX to temporarily suspend stock purchases in early trading.

The temporary halt in trading, also known as a “sidecar” in Korea, came a day after the bourse operator issued a sidecar for sell orders, with the KOSPI plunging by more than 5 percent.

The last time when the KRX consecutively issued a sell-side and a buy-side sidecar was on April 7 and 8, following U.S. President Donald Trump‘s announcement of sweeping tariffs, Lee Kyoung-min, an analyst from Daishin Securities, said.

“As there was no change in the market’s fundamentals, the benchmark index recovered on bargain hunting,” he said.

On a similar note, JP Morgan raised its target for the KOSPI to a range of 6,000 to 7,500 in a report released Tuesday, citing strong delivery in other sectors, such as defense and shipbuilding.

Foreign and Institutional investors turned net buyers, scooping up 703.3 billion won and 2.2 trillion won of equities, respectively. Retail investors sold off a net 2.9 trillion won.

Large-cap shares ended higher across the board.

Market top-cap Samsung Electronics soared 11.37 percent to 167,500 won, while its rival SK hynix advanced 9.28 percent to 907,000 won.

Defense giant Hanwha Aerospace rose 4.84 percent to 1,299,000 won, top carmaker Hyundai Motor added 2.82 percent 491,500 won, and major financial group KB Financial closed up 3.81 percent to 138,800 won.

The local currency was quoted at 1,445.4 won against the greenback at 3:30 p.m., up 18.9 won from the previous session.

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South Korean stocks nosedived by more than 5 percent Monday, due largely to a risk-averse sentiment following the nomination of the new Federal Reserve chair, and a sharp decline in silver and gold prices. The Korean won plunged against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 274.69 points, or 5.26 percent, to close at 4,949.67, snapping a four-session winning streak.

The country’s main bourse operator, the Korea Exchange (KRX), issued a sell-side circuit breaker for 5 minutes around noon.

Trade volume was heavy at 568.8 million shares worth 32 trillion won (US$21.9 billion). Losers outnumbered winners 795 to 116.

Foreign and institutional investors offloaded a net 2.5 trillion won and 2.2 trillion won, respectively. Retail investors, on the other hand, went bargain hunting and snapped up a net 4.6 trillion won.

Local stocks came under selling pressure following the nomination of Kevin Warsh, seen widely as a hawkish figure, as Fed chair, and sharp declines in silver and gold prices, according to Lee Kyoung-min, an analyst from Daishin Securities.

“A sharp drop in precious metals triggered the liquidation and margin call of derivatives holding them. This in turn led to the forced liquidation of other assets, as investors went to preserve margins, further amplifying the stock market’s decline,” Lee said.

International gold prices have experienced a sharp decline of over 10 percent in the past few days, while sliver prices plunged over 30 percent.

The local gold market was affected, too, with gold traded on the KRX falling to its lowest permissible limit of 10 percent Monday. It marked the first time KRX gold prices fell to the floor since the market opened in March 2014, according to the bourse operator.

“There is a possibility the benchmark KOSPI could take a breather, considering its sharp gains recently, but a daily decline of 4 to 5 percent seems excessive,” Han Ji-young, a researcher at Kiwoom Securities, said.

Shares closed lower across the board.

Market top-cap Samsung Electronics declined 6.29 percent to 150,400 won, while its chipmaking rival SK hynix tumbled 8.69 percent to 830,000 won.

Top car marker Hyundai Motor retreated 4.4 percent to 478,000 won, bio firm Celltrion lost 3.33 percent to 203,000 won, and defense giant Hanwha Aerospace closed down 4.69 percent to 1,239,000 won.

Financial shares were among the few winners.

Hana Financial Group added 3.2 percent to 103,300 won, and Meritz Financial Group inched up 0.69 percent to 117,400 won.

The Korean won was quoted at 1,464.3 won against the U.S. dollar at 3:30 p.m., down 24.8 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 1.4 basis points to 3.152 percent, and the return on the benchmark five-year government bonds rose 1.2 basis points to 3.448 percent.

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South Korean stocks closed a tad higher Friday to extend their winning streak to a fourth session to a new record high as investors scooped of artificial intelligence (AI) shares despite concerns over a bubble. The local currency fell against the greenback.

The benchmark Korea Composite Stock Price Index (KOSPI) inched up 3.11 points, or 0.06 percent, to close at 5,224.3, after rising as high as to 5,321.68.

Trade volume was heavy at 852 million shares worth 34.7 trillion won (US$24.1 billion). Losers outnumbered winners 602 to 278.

Individuals bought a net 2.2 trillion won, while foreigners sold a net 1.9 trillion won. Institutions sold a net 425 billion won.

Investors continued to purchase tech shares despite concerns over a bubble, as their performance has already been proven for robust earnings amid the AI cycle.

“For the time being, AI hardware and software companies need to overcome concerns over their profitability,” Han Ji-young, a researcher at Kiwoom Securities, said.

“During the period, the market’s preference for chipmakers that sell memory products to such companies will remain strong,” Han added.

The market advance was limited after U.S. President Donald Trump vowed to raise “reciprocal” tariffs and auto duties on South Korea back to 25 percent this week.

Top-cap Samsung Electronics edged down 0.12 percent to 160,500 won, while SK hynix set a fresh high at 909,000 won, up 5.57 percent.

Brokerage houses closed bullish amid the market rally, with Mirae Asset Securities rising 4.65 percent to 42,750 won and Kiwoom Securities increasing 4.11 percent to 443,500 won.

Top mobile carrier SK Telecom rose 4.32 percent to 72,500 won on the back of improved business outlook, and its rival KT added 1.43 percent to 56,900 won.

Samsung SDI rose 0.52 percent as the company said it has won a battery supply contract without disclosing details, with the deal widely believed to be related to Tesla Inc.’s energy storage system business.

The Korean won was quoted at 1,439.5 won against the U.S. dollar at 3:30 p.m., down 13.2 won from the previous session’s close.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 3.2 basis points to 3.138 percent, and the return on the benchmark five-year government bonds added 4.1 basis points to 3.436 percent.

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