European Stocks Rise Amid Weak Wall Street, Nvidia in Focus
The European stock market closed higher but below its highs on Thursday, with Milan's FTSE MIB index nearing the 53,000 mark after a 0.3% gain.
In the US, Wall Street was weak due to better-than-expected PCE inflation figures, while investors awaited Nvidia's quarterly results to gauge the health of the artificial intelligence sector.
Nvidia's performance will be closely watched for revenue guidance and AI-related demand, with analysts at MPS pointing out key factors to watch including whether the company exceeds its optimistic threshold of $107-$108 billion in revenue for the third quarter.
META Platforms rose after agreeing to pay up to $16.68 billion to settle legal proceedings with several US states over allegations that Facebook and Instagram were designed to be addictive to minors, misled consumers about safety, and improperly collected personal data from children.