European equities ended higher on Wednesday, shrugging off steep losses in North American markets thanks to supportive corporate news from major regional blue chips. The Euro STOXX 50 gained 0.5% to 6,195, while the STOXX Europe 600 advanced 0.5% to 638.0.
ASML climbed 1.2% after reporting earnings and revenue above expectations and issuing a robust sales outlook for the fourth quarter. The Eurozone’s largest company also noted that AI-driven demand for its chipmaking equipment is so strong that it will be unable to fully satisfy customer orders in 2027 or 2028, and said it is examining options to expand production capacity.
ASML’s gains stood in stark contrast to a downbeat session for global AI infrastructure stocks, which were pressured by expectations of prolonged higher interest rates and intensifying competition from Chinese rivals. Infineon slipped 1.2%, while Siemens Energy dropped 5.5%.
At the same time, stronger-than-expected US inflation data reinforced bets on another Federal Reserve rate hike this year, weighing on the banking sector. Shares of BNP Paribas, Intesa Sanpaolo, and Deutsche Bank each fell by close to 1%.