LIVE MARKETS-Before the bell: European futures edge up, ASML pops

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BEFORE THE BELL: EUROPEAN FUTURES RISE, ASML POPS

Shares in Europe were set for a slightly positive start on Wednesday as DeepSeek concerns appeared to abate, allowing Wall Street to close in the black just before earnings from Big Tech and the Federal Reserve's policy decision land later today.

It was a heavy earnings day in Europe too.

AI darling ASML ASML.AS, which has been hit hard by worries over the impact on its business from China's low-cost artificial intelligence models, rose almost 9% in early Frankfurt trading after strong quarterly bookings.

That should help other chip-sector stocks recover part of recent losses.

A less exciting update from luxury goods group LVMH LVMH.PA drove its shares down 3.5% in Frankfurt. Its small sales beat failed to impress investors following a string of strong results from rivals and recent price gains. Luxury peers could also be under some pressure.

In banks, Sweden's SEB SEBa.ST narrowly missed Q4 net profit expectations and proposed a lower-than-expected total dividend for the year. Traders' calls for SEB were mixed.

Eyes were also on UK utility Pennon PNN.L which launched a fully underwritten rights issue for about 490 million pounds to fund investments of in its water businesses.

EuroSTOXX50 and DAX futures edged up 0.5-0.2%, while FTSE contracts eased 0.1%.

In another sign of stabilisation of the tech rout, Nvidia NVDA.O shares were up nearly 3% in Frankfurt.

(Danilo Masoni)

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