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European Shares Subdued Amid Escalating Iran Tensions
European stocks were subdued on Wednesday as escalating Middle East tensions overshadowed upbeat earnings results from companies including ASML Holding and Richemont. The pan-European STOXX 600 was marginally lower at 641.80 after rising 0.2 percent on Tuesday, while the German DAX dipped 0.6 percent and the UK's FTSE 100 slid 0.2 percent. ASML Holding surged over 4 percent after the Dutch chip equipment supplier lifted its annual sales forecast for the second time this year due to surging AI spending. Swiss luxury group Richemont soared 5.7 percent after reporting better-than-expected quarterly sales, helped by booming demand for its jewelry business. Other notable movers included Dr. Martens rising 1.3 percent after backing its annual outlook, Hunting jumping 5 percent on solid first-half trading, and B&M European Value Retail slumping 4.5 percent on modest first-quarter sales growth.
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ASML.AS · Demand · Positive Lifted annual sales forecast for second time due to surging AI spending, shares surged over 4%.
BME.LSE · Demand · Negative Modest first-quarter sales growth reported, causing shares to slump 4.5%.
CFR.SW · Demand · Positive Better-than-expected quarterly sales driven by booming jewelry demand, shares soared 5.7%.
DOCS.LSE · Capital · Positive Backed its annual outlook, leading to a 1.3% rise.
HTG.LSE · Capital · Positive Solid first-half trading reported, driving shares up 5%.