European markets found firmer footing Wednesday as ASML’s strong order outlook calmed nerves around artificial intelligence spending, while healthcare names surged to a five-week peak.
The continent-wide Stoxx 600 closed up 0.43 percent at 637.75 points. Healthcare led all sectors with a 2.3 percent jump, touching its highest level since early September.
ASML shares climbed 1.2 percent after the chip equipment maker revealed customers have already begun lining up orders for its advanced tools stretching into 2029 and 2030. The news signaled persistent demand for semiconductors.
Gordon Kerr, European macro strategist at KBRA, said ASML’s results reinforce the bull case for tech equities, strong chip demand, and infrastructure spending likely extending into 2027.
Investors across Europe have weathered weeks of pressure from climbing oil prices and rising government bond yields. Corporate earnings now carry the burden of reviving equity momentum.
Yet results remain mixed. LVMH kicked off the week with disappointing third-quarter sales as Chinese consumer sentiment deteriorated sharply, denting demand for its luxury portfolio.
“We expect a real dichotomy in earnings,” said Michael Field, chief equity market strategist for EMEA at Morningstar. Companies exposed to energy costs and fragile consumer confidence could struggle, he noted.
Oil markets swung between gains and losses, though Brent crude held above $100 a barrel. Inflation concerns tied to Middle East tensions have strengthened the case for tighter monetary policy.
Traders see the European Central Bank keeping rates steady this month, but LSEG data shows an 81 percent probability of a hike in December.
Mining stocks suffered the steepest sector losses. Fresnillo slid 4.6 percent after JPMorgan cut its price target. Meanwhile, Orsted fell 3.9 percent amid reports that US authorities will revisit the permit for its Rhode Island wind farm.
Softcat tumbled roughly 11 percent after the British IT firm flagged slower growth expectations for fiscal 2027. Sweden’s SEB dropped 5 percent after regulators imposed higher capital requirements over weaknesses in the lender’s internal risk models.
GSK bucked the trend, adding 4.6 percent following news it plans to eliminate up to 1,217 jobs in Belgium.
Markets also digested hotter-than-expected US inflation data for September, which revived speculation of a Federal Reserve rate increase later in October.
