The Stoxx 600 just hit a record high – here's what's driving the pan-European index

A balcony above a trading floor inside the Euronext NV stock exchange in Paris on March 13, 2023.Nathan Laine | Bloomberg | Getty ImagesThe Stoxx 600 touched a record high on Tuesday, closing 0.7% higher at 656.86 points. Europe's headline index tracks 600 large, medium, and small capitalization companies across 17 European countries, and is essentially the continent's equivalent of the S&P 500. The Stoxx 600 is up 10% in 2026 so far, lagging the S&P 500.Since the U.S. and Israel attacked Iran in late February, European markets have had to contend with higher oil prices and sticky inflation, while the buildout of AI and its infrastructure has plowed ahead, albeit with significantly more volatility in recent weeks. As a result, the sectoral picture has been particularly mixed, with some pockets of the Stoxx faring better than others. CNBC breaks down the leaders and laggards year-to-date. Stock Chart IconStock chart iconThe Stoxx 600 hit at all-time high on Tuesday, but the sectoral picture has been mixed. Stoxx 600 top performersTechnology stocks have fared particularly well over 2026 so far – despite a recent pullback in share prices among semiconductor names.The five best...