09.07.202607:36:34UTC+00European Stocks Rebound

European stocks closed higher on Thursday, with the STOXX 50 up 1% and the STOXX 600 advancing 0.5%, snapping a three-day losing streak. The rebound was underpinned by easing oil prices, after crude had surged nearly 7% over the previous two sessions.

Despite the pullback in oil, conditions in the Middle East remained highly unstable, with hopes for de-escalation dimming after fresh strikes by both the US and Iran. Shipping through the Strait of Hormuz continued, though traffic volumes stayed below normal levels.

Technology shares were among the strongest performers, led by semiconductor stocks, which drew support from a broadly positive global mood after demand for SK Hynix’s US share offering exceeded available shares by more than seven times. ASML Holding gained 2.6%, Infineon Technologies rose 3.1%, and STMicroelectronics advanced 3.7%.

In contrast, AstraZeneca tumbled more than 9% after its drug Wainua failed to achieve its primary endpoint of reducing cardiovascular mortality.