European shares pause after two-day rally; ASML bucks weakness
European shares took a breather on Wednesday after two consecutive days of gains as investors parsed through a string of earnings updates and executive commentary, while ASML hit a record high.
By Reuters |
European shares took a breather on Wednesday after two consecutive days of gains as investors parsed through a string of earnings updates and executive commentary, while ASML hit a record high.
The pan-European STOXX 600 index was flat as of 0804 GMT.
Tech stocks were the biggest gainers, climbing 2.7%.
Investors have looked to earnings for reassurance at a time when the macroeconomic backdrop has been clouded by geopolitical and trade tensions.
ASML, the world's largest supplier of computer chip equipment, reported stronger-than-expected bookings for the fourth quarter, highlighting resilient AI demand. Its shares rose 6.9%.
Swedish truckmaker Volvo Group's stock climbed 2.7% after it reported a smaller-than-feared decline in fourth-quarter operating profit.
On the other hand, luxury group LVMH's shares dropped 6.1% after CEO Bernard Arnault said he was cautious about the year ahead.
Investors are now awaiting the U.S. Federal Reserve's policy decision later in the day. The central bank is widely expected to hold interest rates steady, but the focus will be on the threats to its independence.
The pan-European STOXX 600 index was flat as of 0804 GMT.
Tech stocks were the biggest gainers, climbing 2.7%.
Investors have looked to earnings for reassurance at a time when the macroeconomic backdrop has been clouded by geopolitical and trade tensions.
ASML, the world's largest supplier of computer chip equipment, reported stronger-than-expected bookings for the fourth quarter, highlighting resilient AI demand. Its shares rose 6.9%.
Swedish truckmaker Volvo Group's stock climbed 2.7% after it reported a smaller-than-feared decline in fourth-quarter operating profit.
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On the other hand, luxury group LVMH's shares dropped 6.1% after CEO Bernard Arnault said he was cautious about the year ahead.
Investors are now awaiting the U.S. Federal Reserve's policy decision later in the day. The central bank is widely expected to hold interest rates steady, but the focus will be on the threats to its independence.
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