12.08.202607:46:16UTC+00European Stocks Lack Direction

The STOXX 50 and STOXX 600 hovered near record highs and were little changed on Wednesday, as investors avoided taking major positions ahead of the US CPI release, which is expected to offer fresh insight into inflation trends and shape expectations for the Fed’s next moves. Sentiment was also tempered by rising oil prices.

The earnings season is nearing its end, though a number of companies are still posting results. ABN AMRO rallied more than 5% after beating market expectations across the board, while Vestas soared over 18% on stronger revenue.

Technology stocks were among the day’s standout performers, supported by a broad-based global tech rally after CoreWeave reported stronger-than-forecast sales growth. ASML Holding rose 2%, Infineon Technologies added 1.6%, Siemens Energy advanced 3.5%, and Rheinmetall gained 1.3%.

In contrast, luxury names came under pressure: LVMH slipped 1.8%, Hermès fell 1.5%, and Kering dropped 2.9%.