European stocks up to highest level in a week

European stocks reached their highest level in a week today, Thursday, with shares of chip companies raising the technology sector, after the leading company, NVIDIA, exceeded expectations by a large margin in its quarterly revenue forecast, and the decline in bond yields contributed to improving risk appetite.

According to Reuters, the European Stoxx 600 index rose 1% by 0707 GMT, and trading began on the rise for the fourth consecutive session.

Technology stocks jumped 1.8 percent, led by chip stocks after NVIDIA, the world’s largest chip maker by market value, expected higher-than-expected revenue and also announced a share buyback program.

Shares of ASM International, BE Semiconductors, ASML Holdings and Extron achieved gains in early trading, ranging between 2.5% and 3.5%.

European retail stocks registered 1.3% of the gain, after falling more than 1% in the previous session.

The decline in bond yields in Europe also gave a boost to stocks, with German bond yields, which are the benchmark for the region, falling to 2.46%.