Unilever Drives European Market Rally Amid Tech Sector Volatility

Unilever’s performance, its strongest single-day jump in two years, followed a report that soundly beat analyst sales growth estimates. The consumer giant provided a critical buffer for the index, offsetting a retreat in the banking and technology sectors. Luxury names, including Mercedes-Benz, also provided support, helping sustain the market’s momentum.

Technology shares faced pressure after reports that China has begun domestic production of lithography equipment, a development that threatens the long-standing dominance of firms like ASML. Simultaneously, the energy sector slumped as diplomatic optimism regarding a potential U.S.-Iran deal weighed on commodity prices. Traders now look toward Federal Reserve Chair Kevin Warsh, whose upcoming policy statement is expected to address interest rate trajectories, despite persistent market speculation regarding future hikes.