LVMH climbs as quarterly sales placate industry concerns
ASML slides on bleak new bookings in Q1
Adidas at over twoyear high on hiked forecast, strong Q1
STOXX 600 adds 0.5

April 17 Reuters European shares rose on Wednesday, though not too far off their onemonth low, lifted by healthy quarterly results from consumer companies LVMH and Adidas, while investors kept a cautious watch on developments in the Middle East.

The continentwide STOXX 600 was 0.5 higher by 0854 GMT, helped by a 2.2 advance in the personal and household goods sector.

Adidas jumped 6.3 to an over twoyear high, topping Germany39;s bluechip index, as the sportswear company hiked its outlook for 2024 after posting betterthanexpected preliminary results for the first quarter.

LVMH rose 4.4, driving a 1.9 rise in the luxury sector, after the world39;s largest luxury group39;s quarterly sales rose 3, offering some reassurance to investors concerned about the industry39;s outlook, particularly in China.

You39;ve seen relatively strong performance from equities up until last week and firstquarter earnings generally are about somehow validating the moves that we39;ve seen… and if corporate profitability is as resilient as people hope, said Richard Flax, chief investment officer at Moneyfarm.

Keeping a lid on gains, the technology sector dropped 2, hauled down by ASML39;s 4.6 slide after Europe39;s biggest tech firm reported weakerthanexpected new bookings in the first quarter.

With interest rates…