European shares hit record high as ASML lifts tech stocks after robust earnings

Posted by January 29, 2025 Tech
European shares hit record high as ASML lifts tech stocks after robust earnings

European shares climbed a record high on Wednesday, as chip equipment maker ASML led technology stocks higher after reporting strong quarterly results.

The pan-European STOXX 600 was up 0.5%, as of 0810 GMT, and rose past Tuesday’s record close.

Shares of ASML jumped 10.6% after the Dutch company reported better-than-expected fourth-quarter bookings of 7.088 billion euros ($7.39 billion).

Its peers ASM International, BE Semiconductor and Infineon gained between 2.7% and 7.5%.

Technology was the top winning sector, soaring 4.5%.


Capping gains, LVMH fell 5% as the luxury goods group’s sales growth failed to impress investors, following a string of strong results from rivals and recent price gains. Rivals Kering and Christian Dior also declined 6% and 5%, respectively. French benchmark CAC 40 index lost 0.4%. The key event for the day will be the U.S. Federal Reserve’s monetary policy decision, with the central bank expected to keep policy rates unchanged in the 4.25%-4.50% range.

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