European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
The pan-European STOXX 600, was up 0.7% at 565.85 points as of 0938 GMT.
Bourses in Germany and France, also rose about 0.8% each.
Chip designer Nvidia's blowout quarterly results and positive outlook come at a crucial time for investors, who have been rattled in recent weeks by fears of an AI bubble.
Nvidia's results temporarily eased investor anxiety, with the company's shares rising 5.5% in U.S. premarket trading.
"The strong results do not erase AI bubble fears, but rather push them below the surface, offering a brief reprieve for markets," said Daniela Hathorn, senior market analyst at Capital.com.
The rebound among chipmakers was further fuelled by reports that the U.S. may delay its planned 100% tariffs on semiconductor imports to ease tensions with China.
The European tech index climbed 1.2%, with Infineon and ASML gaining about 2% each.
AI equipment makers that have benefited from the technology boom, such as Schneider Electric and Siemens Energy were up 2% and 4%, respectively.
Europe's defence index was up 2.1%, having slid nearly 3% on Wednesday on signs of a fresh U.S.-led push to end the Russia-Ukraine war.
On the financials side, European banking stocks were among the biggest gainer on the index, up more than 1.3% each.
"At a time where there is so much focus and emphasis placed on the tech sector, financials and banks have been steadily creeping up in the shadows," Hathorn said.
BNP Paribas gained 5.7% after the French bank raised its CET1 ratio target, a gauge of financial stability, to 13% by 2027.
Later in the day, the focus will shift to a long-awaited official U.S. jobs report that could sway expectations regarding the Federal Reserve's monetary policy verdict next month.
Analysts say the coming U.S. figures could offer clues on the Federal Reserve's next steps, with weaker labour-market data potentially reinforcing expectation of an interest-rate cut.
Geopolitical developments between Russia and Ukraine also remain on investors' radar, alongside a full data calendar in the Eurozone led by the Consumer Confidence Index.
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Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Indonesia has reopened Jakarta's main airport and four others after volcanic ash from Mount Anak Krakatau forced widespread flight cancellations, though fresh eruptions have kept authorities on alert.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
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