European stocks climbed on Wednesday, with the STOXX 50 rising 1.2% and STOXX 600 adding 0.7% after losses in the previous session, as traders welcomed a fresh batch of corporate results. The luxury sector was among the top performers, boosted by a 12% surge in LVMH shares after the company’s revenues exceeded forecasts. Other luxury names also advanced strongly, including Kering (+8.3%), Burberry (+6.6%), Hermès (+6.3%), Moncler (+6.8%), and Richemont (+5.4%). ASML Holding added 2.6% after posting better-than-expected earnings despite slightly lower revenues. The company said it does not expect its 2026 net sales to fall below 2025 levels, and that “positive news” regarding AI-related commitments helped ease some ongoing uncertainties. French assets led the rally after Prime Minister Sébastien Lecornu announced yesterday that he would suspend a controversial pension reform until after the 2027 election, one of President Emmanuel Macron’s key policy initiatives.
