14.08.202515:53:02UTC+00European Stocks Extend Gains

European stock markets experienced a notable upward shift for the second consecutive session on Thursday, buoyed by strength in key sectors. Investors continued to evaluate significant corporate earnings while considering the impact of global interest rates and trade barriers on the European economy's positive trajectory. The STOXX 50 index rose by 0.9% to reach 5,437, and the STOXX 600 climbed by 0.5% to 553. Allianz saw a gain exceeding 2%, reflecting robust performances among insurers and reinsurers, particularly after Swiss Re reported promising results for the first half of the year. Financial institutions also bolstered their recent recovery, with BBVA and Nordea increasing by 2% and 2.5%, respectively. In the industrial sector, Airbus and Schneider Electric each saw an approximately 2% rise, maintaining their gains despite a downturn in Euro Area industrial production. On the downside, Adyen and ThyssenKrupp both declined around 5% following the release of less favorable outcomes.