Story perspectives

European Tech Rallies 10%, Driving Majority of Gains

5/22/2026

Summary

Story summary

Since February 28, tech stocks lifted the STOXX Europe 600 tech sector 10% while index fell over 2%.
TS Lombard’s baskets of ASML, Infineon, STMicroelectronics, Schneider Electric and Prysmian rose 20%–22% since April.
The baskets drove two-thirds of European equities’ gains, matching the Nasdaq’s 21% rise.
European tech shares hit their highest since 2000 at 28 times earnings versus the Nasdaq’s 35 times, as Euro-zone activity fell fastest in 2.5 years and Brent rose to $105.01 a barrel.

History

Historical Context

The Nasdaq Composite surged past 5,000 in March 2000, marking the dot-com bubble peak after the index rose roughly 400% since 1995. That boom lifted European tech firms such as ASML, Infineon and Schneider Electric. Today their stocks again raise the STOXX Europe 600 tech sector significantly while broader markets decline.

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Story summary

Since February 28, tech stocks lifted the STOXX Europe 600 tech sector 10% while index fell over 2%.
TS Lombard’s baskets of ASML, Infineon, STMicroelectronics, Schneider Electric and Prysmian rose 20%–22% since April.
The baskets drove two-thirds of European equities’ gains, matching the Nasdaq’s 21% rise.
European tech shares hit their highest since 2000 at 28 times earnings versus the Nasdaq’s 35 times, as Euro-zone activity fell fastest in 2.5 years and Brent rose to $105.01 a barrel.

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