European Markets Surge: Tech Stocks Propel Record Highs Amid Central Bank Decisions

European markets hit new highs, driven by tech stocks' robust performance, notably chipmaker ASML's positive results. Anticipation surrounds the U.S. Fed and ECB outcomes. Germany's DAX soared with Deutsche Telekom, while LVMH's sales disappointed. Sweden's SEB saw profit concerns, while Spain's IBEX rose on economic optimism.

European shares soared to unprecedented heights on Wednesday, propelled by a strong performance in technology stocks, particularly following robust results from chip equipment maker ASML, as markets eagerly anticipate a pivotal monetary policy announcement from the U.S. Federal Reserve.

The pan-European STOXX 600 surged by 0.5%, marking its most significant single-day climb in over a week. Lead gains were spearheaded by the technology sector, with a noteworthy 2.5% rise, the most substantial daily increase recorded in three weeks. Notably, Dutch company ASML experienced a 5.6% jump after unveiling better-than-expected fourth-quarter bookings of 7.09 billion euros, equivalent to 7.39 billion U.S. dollars.

Meanwhile, investors await the Federal Reserve's monetary policy decision, anticipated to maintain unchanged policy rates. Analysts will scrutinize Chair Jerome Powell's comments regarding interest rates' outlook for the year.

(With inputs from agencies.)