European Shares Surge Amid Commodity Stabilization and Strong Earnings

On Tuesday, European shares achieved a record high amidst a stabilization in global commodity markets, shifting investor focus to corporate earnings from companies like Amundi and Siltronic.

The pan-European STOXX 600 index rose by 0.8% to 622.46 points, with the basic resources sector experiencing a 1.9% increase. This followed a recent downturn in commodity-linked stocks caused by a drop in precious metal prices after Kevin Warsh was nominated as the next U.S. Federal Reserve chair and a hike in CME margin requirements.

Amundi, Europe's largest asset manager, saw its shares rise 4.7% after exceeding net inflow expectations in the fourth quarter. Meanwhile, German semiconductor wafer supplier Siltronic experienced a 2.5% increase following strong preliminary fourth-quarter results. The broader tech sector drew attention after U.S.-based Palantir Technologies reported a significant sales surge and provided positive future forecasts.