Soitec shares skyrocket 414.5% as European stock markets reach new record highs in 2026
European equities have reached new record highs in 2026, with the pan-European STOXX Europe 600 index climbing to a record 657 points. The rally is primarily driven by the artificial intelligence boom, with semiconductor infrastructure companies leading the market. Soitec, a French semiconductor materials specialist, emerged as the best-performing constituent of the STOXX Europe 600, with shares skyrocketing 414.5% since the start of the year. Other top performers include AT&S, Technoprobe, Aixtron, and STMicroelectronics. While technology and banking sectors show strength, other industries face challenges. The luxury goods sector has struggled due to a slowdown in Chinese demand, with LVMH and Hermes seeing significant declines. Additionally, the automotive sector remains in a structural crisis, with Porsche AG and Stellantis experiencing notable share price drops. The rally is supported by a resilient eurozone economy, which expanded by 0.4% in the second quarter, and easing inflation fears following reports of a potential new agreement between Washington and Tehran to reopen the Strait of Hormuz.