European Stocks Hit All-Time High as Markets Brush Off Tech Earnings Disappointment

Global markets showed resilience as investors brushed off overnight losses driven by disappointing earnings from tech companies. The STOXX 600 index, a benchmark for European stocks, reached an all-time high, fueled by gains in media and telecoms sectors.

The FTSE 100, CAC 40, and DAX indices in London, Paris, and Frankfurt respectively also rose modestly. Hani Redha, a multi-asset portfolio manager at MetLife, attributed the correction to a natural part of the market's cycle.

Redha said that despite the U.S.-Iran conflict remaining a concern, markets were becoming less sensitive to its impact on oil prices. The proposed deal between Iran and Oman to ease tensions in the region was seen as progress towards ending the conflict.