European Markets Rise, Led by ASML

European stock markets closed higher on Wednesday (Oct. 14), even as North American markets faced significant downward pressure. The Euro STOXX 50 rose 0.5% to 6,195, while the STOXX Europe 600 gained 0.5% to 638.0. The rally in European markets was driven by positive developments from major companies in the region.

The technology sector was a key driver, with ASML shares rising 1.2% after the company reported earnings and revenue that exceeded expectations and issued a strong sales forecast for the fourth quarter. ASML also noted that demand for chip-making equipment—fueled by the growth of AI—is so high that the company is not expected to be able to meet all customer orders in 2027 and 2028.

ASML’s performance stood in contrast to the sentiment surrounding global AI infrastructure stocks, which have faced pressure from rising interest rate expectations and competition from Chinese firms. In Europe, Infineon fell 1.2% and Siemens Energy dropped 5.5%, capping gains for major indices.

The banking sector also came under pressure after hotter-than-expected US inflation data raised expectations that the Federal Reserve might hike interest rates again. BNP Paribas, Intesa Sanpaolo, and Deutsche Bank each fell nearly 1% as investors weighed the potential impact of tighter monetary policy on financing conditions and the broader economy.

Source: Newsmaker.id