European stocks advanced on Wednesday as ASML’s quarterly results and stronger sales outlook lifted confidence in the technology sector. The pan-European Stoxx 600 rose 0.48% to 638.07 points at 08:57 GMT, while ASML gained 2.4% and European technology shares climbed 1.2%. These figures reflect intraday trading.
The Dutch semiconductor equipment supplier reported approximately €11.7 billion in third-quarter sales and €5 billion in net income, according to its earnings announcement listed on Euronext. The results underline the scale of investment flowing into equipment used to manufacture advanced chips.
ASML raised its full-year revenue forecast to €44 billion–€45 billion, narrowing its previous range of €43 billion–€45 billion. It also expects an annual gross margin of about 56%, at the top of its earlier guidance. Demand is being supported by chipmakers expanding production to serve the rapid development of artificial intelligence infrastructure.
Chief executive Christophe Fouquet said the company was examining further production increases as customers signalled equipment needs extending into 2029 and 2030. ASML expects demand for its advanced machines to exceed available supply into 2028, despite planned capacity expansion.
The update strengthened the case for continued semiconductor investment, helping European technology stocks recover from the previous session’s sell-off. Investors nevertheless remained focused on energy prices and forthcoming US inflation data, which could influence the outlook for interest rates and broader market sentiment.
