Global Stocks End Higher as Europe’s Benchmark Hits 52-Week High

Global stock markets closed higher on Friday, led by strong gains across Europe and Asia, while U.S. markets remained shut for the Independence Day holiday.

In Europe, equities finished in positive territory, with the pan-European STOXX 600 climbing 0.69% to a fresh 52-week high, marking its fourth straight week of gains. Defensive sectors outperformed, with utilities leading the rally.

Among major European indexes, Germany’s DAX gained 0.85%, Italy’s FTSE MIB rose 0.77%, France’s CAC 40 added 0.48%, and the U.K.’s FTSE 100 edged 0.19% higher.

Asian markets also posted strong gains. Japan’s Nikkei 225 rose 1.47%, while the TOPIX advanced 1.17%. South Korea’s KOSPI surged 5.76%, while the KOSDAQ slipped 1.68%.

Elsewhere, Australia’s S&P/ASX 200 climbed 1.37%, Hong Kong’s Hang Seng Index gained 1.28%, and China’s CSI 300 rose 1.15%.

Overnight in the U.S., markets closed mixed. The Dow Jones Industrial Average hit a record high after softer-than-expected June jobs data boosted expectations for future Federal Reserve rate cuts.

The Dow jumped 594.83 points, or 1.14%, to close at a record 52,900.07. Meanwhile, the S&P 500 ended nearly flat, while the Nasdaq Composite fell 0.8%.

Technology stocks, especially semiconductors, remained under pressure for a second straight session. The VanEck Semiconductor ETF dropped 4.5%, dragged lower by sharp losses in Teradyne and KLA. Shares of NVIDIA and Micron Technology also moved lower.