Europe's STOXX 600 index closed at a record high on Wednesday, 11 November 2026, gaining 0.72% to finish at 663.05 points. The pan-European benchmark ended just short of its intraday record of 663.41, as renewed confidence in artificial intelligence lifted technology shares across the region.

Germany's DAX led the main European markets, rising 1.2% to close at 26,662.77. France's CAC 40 added 0.66% to 8,332.87, while the euro area's Euro Stoxx 50 climbed 1.04% to 6,393.39. London's FTSE 100 rose 0.78% to 10,835.47, and all nine major European indices tracked in the session closed higher.

Siemens Energy leads the rally

Siemens Energy was the standout performer, jumping 10.8% after raising its expectations for profit margins in 2027 and announcing plans to more than triple its dividend. Its peers followed: Schneider Electric gained 3% and Legrand rose 2.2%, while the broader technology sector added 2.5%.

Optimism around AI was further boosted by CoreWeave, the US neocloud company, which said it would become profitable on an adjusted basis in the first half of 2028. CoreWeave had been at the centre of fears about an AI bubble that sparked a global market sell-off last week. Chip stocks also rose sharply, with Soitec up 11.9% and Aixtron up 8%.

Not every sector joined in

Not all parts of the market shared in the gains. Retail and food and beverage stocks were among the main laggards, and Czech ammunition and arms producer CSG fell 21.6% after cutting its full-year operating margin forecast, weighing on the wider defence sector.

Analysts cautioned that the rally may have limited room to run. Societe Generale said it saw the rally as somewhat stretched given persistent macro and political risks, with limited additional upside for the STOXX 600 by the end of the year. Investors also kept a close eye on interest rates a day after hotter than expected US inflation data, with traders expecting at least one quarter-point rate rise from the European Central Bank by February 2027.

Energy shares also recovered, with the STOXX oil and gas sector rising 2.65% to end a run of eight straight declines. Brent crude traded 2.21% higher at $93.51 a barrel after the European close, after shipping attacks in the Strait of Hormuz revived supply concerns.