Stocks listed in Europe looked opened higher on Tuesday, following a Wall Street rally that propelled all three major U.S. indexes to record highs.
The pan-European Stoxx 600 was 0.3% higher by 8:14 a.m. in London (3:14 a.m. ET), with most sectors in positive territory.
On Monday, chipmaking giant Nvidia announced plans to invest up to $100 billion in OpenAI to build data centers, with the former firm’s CEO Jensen Huang labeling the partnership “a giant project.”
The news sparked a rally on Wall Street, with Nvidia gaining 3.9% during the session and with major averages closing at new all-time highs.
European chip stocks were broadly higher in early trade on Tuesday, as investors reacted to the Nvidia-OpenAI deal. Be Semiconductor gained 0.8%, while Infineon jumped 1.8% and STMicro was up 2.1%.
However, semiconductor equipment makers ASMI and ASML fell by 2.6% and 1.4%, respectively, after ASMI cut its guidance for the second half of the year.
Elsewhere, shares of wind farm developer Orsted were up by 6.8% after a U.S. judge ruled the company could continue work on a New England project that had been halted by the Trump administration.
U.K. home improvement giant Kingfisher surged 18% to top the Stoxx 600, after the company raised its outlook amid rising domestic demand.
Kingfisher Plc share price
Global investors are also reacting to the latest developments on Sino-U.S. relations. At a press conference in Beijing on Tuesday, U.S. Ambassador to China David Perdue said that a meeting between U.S. President Donald Trump and Chinese leader Xi Jinping was more likely to take place in early 2026 than during the tail end of this year.
Overnight in Asia, Taiwan stocks hit a record high on the back of the U.S. tech rally, while U.S. stock futures were flat on Tuesday morning.
Back in Europe, traders will be monitoring various economic data releases, including the HCOB Manufacturing PMI data for Germany, S&P Global’s U.K. Manufacturing PMI, and Spain’s latest balance of trade.
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