Kathleen Brooks, research director at XTB, said Nvidia’s results “could determine whether the US tech sector can reverse its fortunes and start to boost the US stock market as we move through the first quarter”.
Europe and US equity markets rallied on Wednesday as top technology stocks made gains ahead of artificial intelligence (AI) giant Nvidia announcing its annual results.
Shares in California-based Nvidia were climbing nearly 5% ahead of the release of its earnings, which shareholders have been eagerly awaiting after its share price was knocked by the emergence of Chinese AI firm DeepSeek.
Convatec was leading the charge in the afternoon with gains of more than 5%, after the company, which makes medical products for chronic conditions, reported a jump in profits and said it was expecting growth to continue into 2025.
In other company news, shares in BP fell after the company told investors it was going to be slashing its annual renewables spending by nearly three-quarters.
