FX.co ★ European Stocks Fall Led by ASM, Luxury Stocks

The Stoxx 50 declined 0.7% on Wednesday, dragged lower by ASML Holding, which fell more than 4% after issuing a weaker-than-expected outlook for the current quarter, despite raising its full-year sales forecast. The company projected second-quarter revenue between €8.4 billion and €9 billion, below analysts’ estimates. The broader Stoxx 600 slipped 0.4%, pressured by weakness in the luxury sector. Hermès shares tumbled 8% as rising tensions in the Middle East weighed on sales growth, while Kering lost 9% after reporting disappointing results at Gucci, citing the conflict as a factor in the slowdown. Investor sentiment remained cautious as markets awaited clearer developments in the region, watching closely for confirmation of renewed talks and a potential extension of the ceasefire.