European Shares Soar Amid Earnings and M&A Surge

European shares achieved a record closing high on Monday as the market rebounded globally from last week's downturn. The upswing was fueled by corporate earnings and key mergers and acquisitions, including positive outcomes for Italy's UniCredit.

The pan-European STOXX 600 index climbed 0.7% to 621.41 points, indicating a recovery in global stocks after concerns about AI disrupting software firms. Despite the easing of AI fears, sector uncertainty persists, with industry giants like Alphabet and Amazon setting new targets to advance the technology.

In other developments, UniCredit shares surged 6.7% after revising its profit forecast upwards and deciding to retain stakes in competitors under CEO Andrea Orcel. The tech sector experienced a 0.9% gain, supported by STMicroelectronics' new collaboration with Amazon Web Services.