European Stocks Rise on ASML Earnings Boost

European stocks traded higher on Wednesday, recovering from losses in the previous session, with the STOXX 50 gaining 0.7% and the STOXX 600 rising 0.4%. Gains were led by the technology sector following upbeat results from ASML. The company's shares advanced 2.2% after it beat earnings and revenue expectations and issued a strong sales forecast for the fourth quarter. ASML also said that AI-driven demand for its chipmaking equipment was so strong that it would be unable to fully meet customer demand in 2027 or 2028, adding that it was exploring ways to expand capacity. Infineon Technologies rose 1.5% and STMicroelectronics gained 0.7%. Luxury stocks also performed well, with LVMH climbing 2.1%, Hermes adding 2.3% and Richemont advancing 1.6%. On the downside, Admiral tumbled 3.1%, making it one of the STOXX 600's worst performer, while Orsted fell 2.7% after