MILAN (Reuters) – Europe’s STOXX Tech index jumped over 3% to its highest since January 2022 on Wednesday as traders cheered strong earning updates from some of the region’s top technology groups.
Chipmaking equipment maker ASML, Europe’s biggest technology company by market value, reported better-than-expected net profit and its best-ever quarterly orders, while German software maker SAP forecast double-digit growth in revenue from its key cloud business.
By 0835 GMT, SAP rose over 7% in Frankfurt to an all-time high and ASML gained 6.3% in Amsterdam.
Including Wednesday’s gains, Europe’s tech index is up 5.5% so far this year, while the broader STOXX 600 is down almost 1%.
(Reporting by Danilo Masoni, editing by Alun John)
