European Stocks Close Higher

European equities closed higher on Wednesday, resisting sharp losses in North American equity markets amid positive corporate developments for local corporate giants. The Euro STOXX 50 added 0.5% to 6,195 and the STOXX Europe 600 advanced 0.5% to 638.0. ASML rose by 1.2% after it beat earnings and revenue expectations and issued a strong sales forecast for the fourth quarter. The Eurozone's largest company 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. The move contrasted sharply with a pessimistic session for global AI infrastructure stocks amid the outlook of higher rates and improved offerings from Chinese competitors. Infineon dropped 1.2% and Siemens Energy sank 5.5%. Meanwhile, hot inflation from the US added bets of a Fed rate hike this year, pressuring banks. BNP Paribas, Intesa Sanpaolo, and Deutsche bank fell close to 1%.