European shares climb on mining and technology gains
The STOXX 600 rose 0.8 percent as mining stocks hit record highs and tech shares rallied. Investors focused on Mideast tensions and upbeat corporate earnings.
The X STOXX EUROPE 600 1C rose 0.8% to 611.42 points on Wednesday, recovering from a 1% decline the previous day. European miners and technology firms led the rebound, even as high oil prices linked to conflict in Iran weighed on sentiment. The recovery highlights a relative value trade for global investors as European earnings growth reaches its fastest pace in three years.
### Mining and Tech Drive Sectoral Gains The basic resources index jumped 4.4% to a record high, tracking a rally in base metal prices. It remains Europe's best-performing sector this year. Semiconductor stocks also surged, with INFINEON TECHNOLOGIES AG, STMICROELECTRONICS NV, and AIXTRON SE each gaining about 10% during the session.
