July 31 (Reuters) – European shares hit a record high on Friday, powered by improving investor appetite for tech shares globally, while corporate earnings buoyed markets through a week of central bank decisions and Middle East hostilities.
The pan-European STOXX 600 index was up 0.9% at 655.2 by 0712 GMT, on track for its fourth month of gains.
Tech stocks on the STOXX 600 jumped 2.2%, tracking Asian peers as demand for AI-linked stocks improved from earlier this week. Soitec added 7.2%, Infineon Technologies was up 7% and ASML inched 3.5% higher.
On the other hand, a more than 1% dip in oil prices helped, with Brent contained below $90 a barrel. More supplies flowing through a crucial chokepoint offset a lack of major breakthroughs in the U.S.-Iran conflict.
Earnings were in full swing in Europe.
Melrose Industries dropped 9.3% to the bottom of the STOXX 600 after the GKN Aerospace owner said it expects additional costs of £25 million to £30 million ($33.6 million to $40.3 million) in the second half of 2026 after an incident at its Garden Grove facility in California in May.
Credit Agricole gained 4.5% after posting better-than-expected second-quarter earnings.
(Reporting by Purvi Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)
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