ASML’s chip books boost the tech sector
European stock exchanges closed with gains in the main indices on Wednesday, maintaining positive momentum after unexpected inflation data in the eurozone, CNBC reported.
The pan-European Stoxx 600 index rose by 0.79%, with technology stocks up by 2.62%. Dutch chip manufacturer ASML led the way, with its shares rising by 10% following news from Reuters that the company may be exempt from restrictions.
European Inflation on the Rise
The European Union’s statistical agency reported on Wednesday that core inflation in the 20 eurozone countries accelerated from 2.5% in June to 2.6% in July. Economists, surveyed by Reuters, had expected this figure to remain unchanged.
Focus on Corporate Earnings
Corporate earnings also remain in focus. Shares of British bank HSBC rose after it reported a slight decline in pre-tax profits in the first half of the year, but nonetheless
то показва силния ръст в Европа и отстъпването в Северна Америка.
Adidas Reports Strong Sales Growth in Europe
Adidas, the sports apparel manufacturer, surprised analysts by announcing a $3 billion share buyback program. This move came after the company reported a 19% increase in quarterly sales in Europe, despite a decline in the Yeezy line, founded by Kanye West, affecting results in North America.
Deutsche Bank Research analyst Adam Cochran stated that the key takeaway from Adidas’ sales report was the regional breakdown, highlighting strong growth in Europe and a decline in North America.
Impressive 9% Growth in China
A recent report has revealed an impressive 9% growth in China’s economy, showcasing the country’s resilience and strength in the face of global challenges. This growth is a testament to China’s strong economic policies and innovative strategies.
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