BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks eked out modest gains on Wednesday as investors cheered strong results from ASML and awaited the release of U.S. CPI data later in the day for additional clues on the Federal Reserve's rate trajectory.
New York Fed President John Williams said on Tuesday he believes it might be appropriate to raise interest rates one more time this year, but there is no need for further tightening in 2027.
Fed Governor Christopher Waller noted that the surge in U.S. Treasury yields to 24-year highs is driven by stronger economic growth and AI investment, adding that inflation expectations remain well anchored.
Investors shrugged off data from Destatis that showed German wholesale price inflation rose to 8.7 percent in September from 6.8 percent in the prior month. A higher price increase than that in September 2026 was last recorded in February 2023.
The pan-European STOXX 600 rose half a percent to 637.94 after ending 0.1 percent lower on Tuesday.
The German DAX edged up 0.4 percent, France's CAC 40 added half a percent and the U.K.'s FTSE 100 was up 0.4 percent.
ASML Holding shares climbed 2.2 percent. The Dutch semiconductor equipment giant raised its full-year 2026 sales forecast after reporting stronger-than-expected fiscal third-quarter results.
Dustin Group rose about 1 percent. The Swedish IT reseller reported adjusted EBITA that was better than expected in the fourth quarter of fiscal 2025/26.
Swiss contract drug manufacturer Lonza Group rallied 2 percent after announcing new midterm targets and backing its annual outlook.
British IT infrastructure provider Softcat slumped 7 percent despite the company reporting better-than-expected annual profit.
Discoverie Group shares rose 2.3 percent. The electronics designer reported strong first-half results and said full-year adjusted earnings were running ahead of the board's expectations.
Freenet advanced 1.4 percent. The German telecom and multimedia company said it has acquired all remaining minority interest of around 25 percent in Exaring AG or waipu.tv from its minority shareholders.
Biotec company Evotec jumped 7.2 percent after delivering nine-month results above market expectations and reiterating its FY26 outlook.
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