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European Bourses Strike Fresh Record Highs Amid Bank Share Gains

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Last updated: 10/03/2025 08:01:18

08:01 AM EDT, 10/03/2025 (MT Newswires) -- European bourses marched into record-high territory Friday on strength in financial stocks, even as tech shares took a breather.

Property stocks also led gainers, while retail shares tracked higher as well.

Investors also eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges, with Tokyo's Nikkei 225 closing at an all-time zenith after tech-conglomerate Hitachi disclosed a partnership with US-based Open AI, the ChatGTP modeler, to provide energy systems for data centers.

In economic news, the eurozone composite purchasing managers index logged at 51.2 in September, up from 51.0 in August, and logging modestly further above the 50-mark that separates growth from contraction, S&P Global reported.

The pan-continental Stoxx Europe 600 Index was up 0.5% mid-session, testing an all-time record high.

The Stoxx Europe 600 Technology Index was steady, while the Stoxx 600 Banks Index gained 1.3%.

The Stoxx Europe 600 Oil and Gas Index was up 0.5%, while the Stoxx 600 Europe Food and Beverage Index fell 0.4%.

The REITE, a European REIT index, rose 0.9%, while the Stoxx Europe 600 Retail Index was up 0.6%.

On the national market indexes, Germany's DAX was down 0.1%, while the FTSE 100 in London gained 0.5%, also trading at an all-time apex. The CAC 40 in Paris was steady, and Spain's IBEX 35 gained 0.7%.

Yields on benchmark 10-year German bonds were steady, near 2.70%.

Front-month North Sea Brent crude-oil futures were up 0.6% at $64.50 a barrel.

The Euro Stoxx 50 volatility index was down 1% at 16.65, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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