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European Stocks Hit Record High Amidst Market Stabilization
3 Feb
Summary
- European shares reached a record high on Tuesday.
- Commodity markets showed signs of stabilization.
- Key earnings reports from Amundi and Siltronic influenced the market.
European stock markets achieved a new record high on Tuesday, February 3rd, 2026, signaling a stabilization in global commodity markets that had recently experienced a downturn. The pan-European STOXX 600 index rose by 0.8% by 0816 GMT, with the basic resources sector leading the gains.
This market recovery followed a period of pressure on commodity-linked stocks, influenced by a slump in precious metal prices and a hike in CME margin requirements. The nomination of a policy hawk as the next U.S. Federal Reserve chair also contributed to market shifts.
Corporate earnings provided additional market impetus. Europe's largest asset manager, Amundi, saw its stock jump by 4.7% after surpassing expectations for fourth-quarter net inflows. Similarly, German semiconductor wafer supplier Siltronic reported preliminary fourth-quarter results that exceeded market forecasts for both core profit and revenue, leading to a 2.5% increase in its shares.
