LIVE MARKETS-Tech strikes back, luxury goes back

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TECH STRIKES BACK, LUXURY GOES BACK

A powerful 4% bounce in tech .SX8P following ASML ASML.AS orders that came in "well above" expectations was the main highlight at the open in Europe on Wednesday.

Shares in the Dutch AI darling popped 11%, lifting the chip sector and bringing some cheer following the DeepSeek battering. Other AI names among industrials .SXNP were in demand too.

Big Luxury .STXLUXP was a weak spot, pulling back from a recent recovery rally, with profit-taking the main suspect behind the down-move, as sales at LVMH LVMH.PA beat expectations, but only by a small margin.

With minor gains elsewhere, the end result was the STOXX 600 .STOXX hitting a new intraday record high at 534.17 points, keeping European equities very much in fashion.

The region wide index was last up 0.4%. 52% of its constituents were in the black.

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

BEFORE THE BELL: EUROPEAN FUTURES RISE, ASML POPS CLICK HERE

TECH NERVES SETTLE JUST IN TIME FOR MAG 7 EARNINGS CLICK HERE