European shares broke a new historical record, thanks to technology companies and banks

The European stock market benchmark reached an all-time high this Wednesday, driven by the technological and financial titleswhile investors analyzed he testimony before Congress by the chairman of the Federal Reserve, Jerome Powellone day before monetary policy decision of the European Central Bank.

The pan-European STOXX 600 index rose 0.4%, and the Italian FTSE MIB index also hit a record high. The STOXX 600 has already broken several records this year, getting closer and closer to the 500 point mark, driven by investments in technological values in the midst of the mania for Artificial intelligencea somewhat resistant earnings season and the market’s faith in an early rate cut.

The ECB’s monetary policy decision on Thursday is in the focus of investors, who believe that the central bank will keep rates stable. In the United States, Powell warned that “not insured” to continue making progress in reducing inflation, but said that rate cuts remain on the table for later this year.

Technological and financial stocks, at the top of the increases

Tech stocks rose 1.4% following gains in U.S. peers, while financials gained 1%with London Stock Exchange Group adding 2.3% after a consortium of investors sold about $2.41 billion in the stock’s owner.

Swedish venture capital firm EQT climbed 8.3%. His skin care company Galderma plans to raise about $2.3 billion in a Swiss stock market flotation this month, in what could be one of the biggest European IPOs this year.

Grifols plummeted 11.3% following a new report from Gotham City Research in which the “transparency, integrity and ethical conduct” of the Spanish pharmaceutical company is questioned.

Of the STOXX 600 companies that have presented results in the fourth quarter to date51% exceeded estimates, below the usual 54%, LSEG data showed on Tuesday.