European Equities Recover, Led by Gains in Merck and ASML Shares

Deep News05-14

European stock markets rebounded as investors analyzed corporate earnings and monitored a broad rally in technology shares. The Stoxx Europe 600 index closed up 0.8%. Shares of Merck surged 6.8% after its financial report indicated strong momentum in its life sciences business. ASML Holding NV advanced 4.8%, contributing the most to the index's gain, following an uptrend among South Korean chipmakers. The regional index briefly pared gains after U.S. wholesale inflation data showed an acceleration in April, before moving higher again. Robust corporate earnings in Europe supported the market. According to data compiled by Bloomberg Intelligence, first-quarter earnings growth in Europe so far stands at 7.4%, surpassing the consensus expectation of 2.5%.

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