28.08.202507:30:52UTC+00European Stocks Rise on Thursday

European stocks experienced an uptick on Thursday, with the Stoxx 50 increasing by 0.6% and the Stoxx 600 by 0.4%, as investors assessed Nvidia's latest earnings report. The American chipmaker projected over 50% sales growth for this quarter, highlighting continued demand for AI technologies. However, Nvidia's shares dipped due to its data center revenue not meeting projections and rising concerns over sales in China.

In Europe, Pernod Ricard's shares rose by 5%, despite reporting a 3% decline in annual sales, primarily due to subdued demand in China and potential risks regarding US tariffs. In contrast, Drax saw its shares plummet by 11% following the initiation of an investigation by UK regulators into its biomass sourcing disclosures.

In the automotive sector, EU car registration data revealed a 7.4% increase in July, with sales of battery electric vehicles (EVs) soaring by 39%. Chinese EV manufacturer BYD stood out with a remarkable 291% surge in registrations this year, while Tesla experienced a 34% decline in its European sales.