European Shares Surge As Nvidia Results Ease AI Valuation Fears

(RTTNews) - European stocks were sharply higher on Thursday as Nvidia's strong earnings results and Q4 forecast helped ease concerns about AI bubble.

The pan European Stoxx 600 rallied 1.1 percent to 567.78 after closing flat with a negative bias on Wednesday.

The German DAX and France's CAC 40 both jumped around 1.2 percent while the U.K.'s FTSE 100 was up 0.8 percent.

Shares of major tech firms jumped, with ASML Holding rising nearly 3 percent.

Valneva soared 5.2 percent. The French specialty vaccine company backed its updated guidance for the year ahead after reporting higher revenue in the first nine months.

Aerospace heavyweight Airbus rose 1.4 percent after launching the second tranche of previously announced share buyback program.

German wind manufacturer Nordex rallied 2 percent on securing a fresh order to supply and install 12 N133/4.8 wind turbines at the Drumnahough Wind Farm in Donegal, Ireland.

British facilities management giant Mitie Group fell 2.2 percent after acquiring a specialist engineering business.

Specialty chemicals company Johnson Matthey tumbled 3.5 percent after reshuffling its leadership team and announcing a fall in interim earnings.

AstraZeneca gained 1.4 percent. The FDA has expanded the approval of its drug, Koselugo, to include adult patients.

Halma shares jumped 11.5 percent. The health and safety device maker raised its full-year guidance after posting record first-half results.

Sportswear retailer JD Sports declined 1.2 percent after lowering its profit outlook.