European stocks rose on Thursday as global markets were swept by a wave of relief after leading AI company Nvidia reported strong earnings, while investors awaited delayed U.S. jobs data. The Stoxx 600 European index gained 1% to 567.64 points by 08:08 GMT. German and French stock exchanges also rose by more than 1% each. Nvidia's strong quarterly results and positive forecasts came at a crucial time for investors, who have been concerned in recent weeks about a global AI sector bubble. Although these concerns persist, Nvidia's latest results have temporarily eased investor anxiety, and the company's shares, listed on the Frankfurt stock exchange, jumped 6.2%. The European technology index gained 1.8%, with shares of Infineon and ASML each rising 2.8%. Shares of AI equipment manufacturing companies that have benefited from the tech boom, such as Schneider Electric, whose shares rose 2%, and Siemens Energy, whose shares jumped 4%, also rose. As for other companies, shares of French bank BNP Paribas rose 5.7% after the bank raised its target for its common equity tier 1 ratio, a measure of financial strength, to 13% by 2027.
