European Shares Surge on Technology and Insurance Stock Gains Ahead of Key Nvidia Results

European shares reached a one-month high due to gains in technology and insurance stocks, with a notable rise in the STOXX 600 index. Nvidia's anticipated earnings are expected to impact the entire market. Other market influencers include French consumer confidence data and pending German and Spanish inflation reports.

European shares touched a more-than-one-month high on Wednesday, spurred by gains in technology and insurance stocks ahead of Nvidia's much-anticipated earnings report. Ageas' better-than-expected results also played a key role in lifting the market.

The pan-European STOXX 600 index rose 0.2% to 520.09 points, reaching its highest level since July 15. Technology stocks were notably strong, advancing 0.5% and providing the biggest boost to the index. Nvidia's second-quarter results, due after U.S. trading hours, have traders on edge, expecting a market-moving $300 billion swing in the chipmaker's shares.

In addition to Nvidia, French consumer confidence in August matched estimates, lifting the stock index by 0.3%. Upcoming unemployment data and key inflation reports from Germany and Spain are also in focus. The European Central Bank is set to meet in two weeks, with markets anticipating a 25-basis-point rate cut.

(With inputs from agencies.)