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%.
European shares close at record high as tech jitters abate
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 US 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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