Business
European Stock Indexes Rise to Records
European indexes are streaking to new records Wednesday. Cautious optimism around a deal to reopen the Strait of Hormuz has added fresh impetus to a rally built on strong earnings and a rotation away from artificial-intelligence stocks.
AI-related jitters that derailed chip-led gains in Asia and the U.S. were a boon for European stocks, where banks and industrials are driving the technology-light continent.
“Europe is the anti-AI trade,” said Julian Lafargue, chief market strategist at Barclays Private Bank.
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