European shares advanced on Wednesday, as risk appetite was supported by a slew of positive earnings updates, setting the benchmark index on track for its longest winning streak since November 2021.
The pan-European STOXX 600 (.STOXX) was up 0.3% by 0815 GMT, boosted by rate-sensitive technology stocks (.SX8P).
Dutch semiconductor supplier ASM International NV (ASMI.AS) jumped 7.7% on reporting fourth-quarter revenue ahead of its forecast, citing better-than-expected supply chain conditions and higher conversion of the backlog.
The benchmark index has gained nearly 7.5% in an upbeat start to the year, spurred by hopes of a rebound in China's economy, easing price pressures, fall in natural gas futures and growing expectations of a milder-than-expected recession.
German Chancellor Olaf Scholz said in an interview with Bloomberg TV that he was convinced Europe's largest economy would not fall into a recession, despite soaring energy and food prices in the wake of Russia's invasion of Ukraine.
