European Stocks Rise Amid Trump's Davos Address Boost

European shares climbed on Thursday, supported by President Donald Trump's speech at the World Economic Forum in Davos. Gains were tempered by losses in technology stocks. The STOXX 600 closed up 0.4%, marking its seventh day of gains. Investor anxiety remains amid impending tariffs and economic data releases.

European shares ended higher on Thursday, bolstered by President Donald Trump's speech at the World Economic Forum in Davos, Switzerland. The speech, delivered remotely, called for interest rate reductions worldwide, prompting a late-session boost to the pan-European STOXX 600.

The index closed up 0.4% at 530.34 points, its seventh straight day of gains, though technology stocks dragged it down slightly. The tech sector fell 1.5%, with ASML dropping 4.4%. In contrast, Swedbank saw a 4.2% rise as it proposed a notable dividend increase.

Looming tariffs and upcoming European economic data releases continued to weigh on investor sentiment. The European Central Bank is set to meet next week, with a rate cut largely anticipated. Meanwhile, market participants grapple with uneven economic data and fluctuating consumer confidence across the eurozone.

(With inputs from agencies.)