FX.co ★ European Stocks Tread Water

European equities traded cautiously on Wednesday, with both the STOXX 50 and STOXX 600 hovering around the flatline after modest gains in the previous session. Investors remained focused on the corporate earnings season while closely tracking developments in the Middle East, where ongoing uncertainty continued to support higher oil prices.

ASML jumped more than 6% after raising its 2026 financial guidance and announcing plans to expand production capacity, buoyed by stronger-than-expected second-quarter results driven by robust demand for AI-related technologies. Richemont also advanced more than 5% after reporting second-quarter sales that exceeded expectations. Among other luxury names, LVMH rose 2.1% and Hermès gained 2.5%. By contrast, Nestlé slipped 1.3%, Siemens fell 0.6%, and SAP declined 1.1%.