Stoxx 600 Hits Record 656.86 as AI Chip Stocks Power 10% 2026 Gain
Updated
Updated · CNBC · Aug 5
Stoxx 600 Hits Record 656.86 as AI Chip Stocks Power 10% 2026 Gain
3 articles · Updated · CNBC · Aug 5
Summary
Europe’s Stoxx 600 closed up 0.7% at a record 656.86 on Tuesday, extending its 2026 gain to 10% as investors kept backing AI-linked shares.
Semiconductor names led the rally: Soitec has surged 371%, AT&S 330%, Technoprobe 123%, Aixtron 116% and STMicroelectronics 101%, helped by earnings upgrades, strong order backlogs and AI capex spending.
That trade has turned choppier in recent weeks, with AT&S and Aixtron each down more than 20% from mid-June peaks even as analysts say committed infrastructure spending still supports chipmakers.
Banks have also outperformed, with the Euro Stoxx Banks index up 18% on takeover activity and resilient margins, while BP shares have risen 20% as the U.S.-Iran conflict lifted oil prices.
Luxury and autos have lagged badly: LVMH is down 24.43%, Hermes 26.05% and Kering 8.31%, while the Stoxx Autos index has fallen 16% and Stellantis has slumped 48.7%.