European stock markets closed at a record high on Wednesday, buoyed by significant gains in energy shares that offset declines in the technology and financial sectors, amid strong U.S. job reports. The Stoxx 600 index rose by 0.1% to reach 621.58 points, hovering near all-time highs as investors shifted their focus to sectors seen as less vulnerable to the impacts of artificial intelligence, in light of rising concerns about the technology's negative effects on certain industries.

Energy stocks led the gains, surging 3.8% to their highest level since 2008. TotalEnergies shares saw a notable increase of 2.7%, reaching levels not seen since 2024, following the company's reaffirmation of its commitment to expanding oil and gas reserves. This positive performance was further supported by a rise in crude oil prices of over 2%, contributing to the bullish sentiment in the market.

The overall market dynamics suggest a trend among investors to gravitate towards traditional energy sectors, reflecting a broader hesitation towards technology stocks amid fears of potential disruptions caused by AI developments. This pivot towards energy indicates a significant shift in investor sentiment, highlighting the influence of external market reports and commodity pricing on European stock behaviors.