Live Markets: STOXX gains, Morgan Stanley talks up earnings

ASML Holding

14/10/2026 09:16

Adds blog post
STOXX 600 up 0.4%
Eyes on US CPI, reporting season
ASML bounces on earnings
MS ups MSCI Europe target
Wall St futures edge up
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STOXX GAINS, MORGAN STANLEY TALKS UP EARNINGS
European shares rose after the open on Wednesday as technology found a floor after the recent selloff, with ASML ASML.AS up as much as 3%, defying expectations for a weaker start, after pointing to strong demand for its chipmaking tools.
The STOXX 600 .STOXX gained 0.4%, also supported by real estate .SX86P, chemicals .SX4P and construction .SXOP stocks, as calmer bond markets and earnings optimism offset concerns about Gulf energy supplies.
Morgan Stanley expects European earnings growth in the third quarter to exceed an already exceptional second quarter.
"Our recent marketing feedback suggests subdued investor expectations into the season given the recent wall of worry (e.g. energy, bond yields, OAT spread, cycle concerns) whilst European corporate resilience/strength remain underappreciated," Marina Zavolock and other MS strategists wrote. 
They edged up their MSCI Europe target for June 2027 to 2,840 points, which implies a 12% upside. 
Gains were limited by declines in the heavyweight financial sector. Luxury .STXLUXP was another pocket of strength, rising 1.4%, even after LVMH's LVMH.PA sales miss on Tuesday dampened hopes for a recovery of the battered sector.
Around 63% of STOXX 600 constituents traded higher.
In London, the FTSE 100 .FTSE gained 0.1%.

(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPE EYES FIRMER START, TECH LOOKS SHAKY CLICK HERE
LET THE DOVES SING CLICK HERE