European Stocks Hit Records on Chip, Fed Hopes

European shares hit fresh record highs as the STOXX 50 (+1.3%) and STOXX 600 jumped and national bourses including Germany’s DAX, France’s CAC and London’s FTSE reached multi‑month or all‑time peaks. Gains were led by technology and chip‑related names such as ASML and other AI/data‑centre exposed firms after OpenAI raised $6.6 billion and related chipmaker deals boosted demand. Autos, miners and Siemens — which was reported to be exploring a Healthineers spin‑off — also outperformed. Healthcare stocks surged after a US‑Pfizer prescription drug pricing deal reduced policy uncertainty and on positive news including a Novartis FDA approval. Traders have largely shrugged off an unfolding US government shutdown so far, though the shutdown could delay key US jobs and inflation data; a weak ADP print reinforced bets on Federal Reserve easing and markets now price roughly two quarter‑point cuts by year‑end. Those easing expectations have supported equities and gold, but analysts warned of potential short‑term pullbacks.