European shares reach two-week high on US-Iran talks
The STOXX 600 rose 0.6% as investors monitored narrowing gaps in US-Iran talks. Technology stocks gained 2% following strong results from chipmaker Nvidia.
The STOXX 600 rose 0.6% to 624.50 points on Friday as investors reacted to progress in diplomatic talks. The index rose to a more than two-week high, recovering ground lost during recent energy-driven volatility. A potential resolution to geopolitical tensions could lower oil import costs for European markets currently struggling with inflation.
### Tech and Luxury Drive Gains Artificial intelligence optimism and strong corporate earnings fueled a 2% jump in the European technology index. NVIDIA posted a sales outlook that topped estimates earlier this week. Semiconductor firms led the rally, with Infineon Technologies rising 2.5% and ASML Holding gaining 3.7%.
