European stocks advanced on Wednesday, rebounding from the previous session’s losses, with the STOXX 50 up 0.7% and the STOXX 600 gaining 0.4%. The technology sector led the move higher after upbeat results from ASML. The company’s shares rose 2.2% after it surpassed earnings and revenue forecasts and issued a strong sales outlook for the fourth quarter. ASML also noted that AI-driven demand for its chipmaking equipment is so strong that it will be unable to fully meet customer needs in 2027 or 2028, and said it is exploring options to expand capacity. Among peers, Infineon Technologies added 1.5% and STMicroelectronics was up 0.7%.
Luxury stocks also outperformed, with LVMH gaining 2.1%, Hermès rising 2.3% and Richemont advancing 1.6%. In contrast, Admiral dropped 3.1%, making it one of the weakest performers in the STOXX 600, while Orsted fell 2.7% after Bloomberg reported that the US would reassess the permit for its offshore wind project in Rhode Island.
