European Shares Surge on Corporate Updates With ASML Leading Gains

European shares rose nearly 1% on Wednesday, buoyed by various corporate updates. ASML led the gains as the company was exempted from a new U.S. rule affecting chip equipment exports. Other notable increases included Airbus, Safran, and HSBC Holdings, while GSK saw a slight drop.

European shares climbed nearly 1% on Wednesday, driven by a series of corporate updates. Leading the surge was ASML, the Dutch chip equipment manufacturer, whose stocks rose 8% following reports of its exemption from a new U.S. export rule on chip equipment.

The pan-European STOXX 600 index gained 0.9% by 0715 GMT, reaching a two-week high. The regional tech sector jumped 3.3%, with ASML's significant rise contributing heavily.

Airbus saw a 5.2% increase after unveiling its second-quarter results, while Safran's stocks climbed 1.1% following a reaffirmation of its financial targets. In other sectors, HSBC Holdings advanced nearly 3%, Schneider Electric SE rose 3.4%, and GSK saw a 1% drop.

(With inputs from agencies.)