STOXX 600 Hits Record High as Nvidia Turmoil Leaves Europe Up 2.7% This Month
Updated
Updated · Reuters · Nov 13
STOXX 600 Hits Record High as Nvidia Turmoil Leaves Europe Up 2.7% This Month
3 articles · Updated · Reuters · Nov 13
Summary
Europe’s STOXX 600 reached a record high on Thursday and logged its biggest weekly gain since June, while the Nasdaq-100 fell about 2.7% in November.
LSEG data showed STOXX 600 companies are on track for 25% quarterly profit growth—the strongest in four years—helped by energy earnings, resilient economic data and easing oil prices.
Europe’s lighter tech weighting has cushioned the AI-led selloff: information technology is 8.8% of MSCI Europe versus more than 35% of the comparable U.S. index, where Nvidia alone is 6.6%.
That defensive mix has supported a broader rotation into banks, healthcare and energy, though investors warned a deeper Wall Street selloff would still drag on global equities.