ASML Results Lift European Shares as Healthcare Stocks Rally
The Stoxx 600 rose 0.43% as ASML's results reassured investors, while healthcare shares climbed to their highest in over five weeks.
Key takeaways
- The Stoxx 600 gained 0.43% to 637.75 points on Wednesday.
- Healthcare stocks rose 2.3%, reaching their highest level since September 7.
European shares edged higher on Wednesday, with the Stoxx 600 adding 0.43% to 637.75 points. Robust results from ASML helped ease concerns about demand for artificial intelligence-related chips.
ASML shares rose 1.2% after the company said customers were already looking to place orders for its advanced chipmaking tools for 2029 and 2030. The benchmark’s healthcare sector gained 2.3%, its strongest level since September 7.
Investors are looking to corporate earnings to support equities after weeks of elevated oil prices and government bond yields. Brent crude futures remained above US$100 a barrel, while traders expected the European Central Bank to hold rates in October and saw an 81% chance of a December hike, according to LSEG data.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
