The European stock market is recovering lost ground and is expected to close at a record high for the first time since May, as strong economic data eases concerns of a US recession and investors bet on a Fed rate cut.
The benchmark Stoxx Europe 600 index rose 0.8% to 524.75 points, surpassing the May closing high of 524.71 points but still below the intraday high of 525.59 reached in June.
Danish pharmaceutical company Novo Nordisk, Dutch chip equipment company ASML, German software company SAP, and British pharmaceutical company AstraZeneca have contributed to more than a quarter of the index's gains this year.
Danish pharmaceutical company Zealand Pharma, Norwegian defense company Kongsberg, and Siemens Energy are also among the top-performing stocks in 2024 so far.