European shares paused on Wednesday after posting gains over the previous two sessions, as investors digested a fresh round of corporate earnings and management commentary. Meanwhile, chipmaking equipment giant ASML surged to a record high.
The pan-European STOXX 600 index was little changed by 08:04 GMT, reflecting a cautious mood across regional markets.
Technology stocks led sectoral gains, rising 2.7%, as investors continued to favour growth-linked shares.
Market participants have increasingly turned to company earnings for reassurance, as the broader macroeconomic outlook remains clouded by geopolitical uncertainty and ongoing trade tensions.
ASML, the world’s largest supplier of semiconductor manufacturing equipment, jumped 6.9% after reporting stronger-than-expected fourth-quarter order bookings. The update highlighted resilient demand linked to artificial intelligence investment.
Shares in Volvo Group rose 2.7% after the company posted a smaller-than-expected drop in fourth-quarter operating profit, easing concerns about slowing demand.
In contrast, luxury group LVMH fell 6.1%. The decline followed comments from chief executive Bernard Arnault, who struck a cautious tone on the outlook for the year ahead.
Investors are now turning their attention to the upcoming policy decision from the Federal Reserve later in the day. While the central bank is widely expected to keep interest rates unchanged, markets remain focused on broader concerns surrounding the Fed’s independence.
