Key Takeaways
- European shares edged higher, with the technology sector leading gains.
- ASML raised its full-year sales outlook due to strong AI-driven demand for its chip-printing tools.
- Oil prices rose after two vessels were struck in the Strait of Hormuz, denting risk appetite.
European shares inched up on Wednesday, recovering from modest losses in the previous session, as strong results from ASML lifted the technology sector.
The pan-European STOXX 600 index was up 0.32% to 636.99 points by 0713 GMT, after pulling back from a one-week high on Tuesday.
ASML, the world’s largest supplier of chipmaking equipment, rose 1.8% after announcing that AI-driven demand for its chip-printing tools is so strong that it will not be able to fully meet customer demand in 2027 or 2028.
The company said it was looking at ways to expand capacity as it raised its full-year sales outlook, contributing to the technology sector's 0.8% gain.
However, investor focus was also on oil prices, which climbed after two vessels were struck in the Strait of Hormuz, denting overall risk appetite.
Among other movers, Orsted dropped 4.2% after Bloomberg News reported the US would re-evaluate the permit for its Rhode Island wind farm.
Investors will also be watching US consumer price index (CPI) data later on Wednesday for clues on the Federal Reserve’s monetary policy outlook.
