European shares edge up after solid ASML results, healthcare gains
The pan-European Stoxx 600 index gains 0.43% to 637.75 points
European shares edged up on Wednesday as solid results from ASML and gains in the healthcare sector provided reassurance for investors concerned about artificial intelligence demand and the impact of high oil prices. The pan-European Stoxx 600 index climbed 0.43% to 637.75 points, while the healthcare index surged 2.3% to its highest since September 7.
ASML's shares rose 1.2% after the company reported customers were already placing orders for its advanced chipmaking tools for 2029 and 2030, demonstrating that demand for its products remains robust. Gordon Kerr, European macro strategist at KBRA, noted that ASML's performance supports the argument that tech stocks are still performing well and that infrastructure spending is likely to continue into 2027.
However, European investors are also optimistic about corporate earnings to help lift equities, despite uneven results this week. LVMH, a luxury bellwether, reported weaker-than-expected third-quarter sales due to a decline in Chinese consumer sentiment affecting demand for its flagship brands. Morningstar's chief equity market strategist, Michael Field, expects a real dichotomy in earnings, with firms exposed to higher energy prices and weak consumer sentiment potentially struggling.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
