European shares reach record highs as HSBC boosts lending targets and AI fears recede
European stocks hit record peaks today as HSBC raised lending targets and AI fears eased. Strong Nordex earnings boosted markets while Diageo shares fell.
Insights:
European shares reached an intraday record high on Wednesday after HSBC Holdings plc raised a key lending and earnings target, a move that bolstered financial stocks and helped mitigate investor anxiety regarding potential AI-driven disruption. The pan-European STOXX 600 index climbed to the new peak following the announcement from the region's largest lender, which reported annual profits that exceeded market expectations.
