European stocks gained ground Thursday, edging closer to their pre-war record high as investors responded positively to market developments. The benchmark indexes climbed steadily throughout the session, with technology shares leading the advance and contributing significantly to the broader market momentum.

Technology companies outperformed other sectors, with the tech-heavy Nasdaq Europe index rising sharply. This rally coincided with easing geopolitical tensions in Eastern Europe, which reduced market uncertainty and encouraged investors to take on more risk. The improved sentiment helped lift technology shares across the region.

Easier geopolitical conditions also triggered a decline in oil prices, which fell as supply concerns diminished. Lower energy prices provided relief for consumer-facing companies and reduced inflationary pressures across the market. The combination of rising tech stocks and falling oil prices created favorable conditions for European equities to approach their previous peak.