European stocks closed firmly higher on Wednesday, extending the rebound from the prior session as markets assessed a batch of major earnings and the risks to European growth should US President Trump follow through with earlier tariff threats.
The Eurozone's STOXX 50 closed 0.6% higher at 6,337, the highest in over 24 years, while the STOXX 600 gained 0.5% to close at another record high of 534. ASML jumped by 5.8% after its fourth-quarter bookings exceeded estimates. Tech shares led the gains to extend the recovery from the selloff in AI-infrastructure stocks on Monday, with Schneider soaring 4.6%, while Siemens and SAP each jumped more than 1.5%.
In the meantime, heavyweight banks extended their strong momentum with Santander, BBVA, and UniCredit adding more than 1%. On the other hand, LVMH sank 5% after its H2 results underwhelmed expectations. On the policy front, the Fed was due to hold rates after the closing bell, before the ECB is due to cut its rates in tomorrow's session.
Source: Trading Economics
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