2017.07.1921:44:00UTC+00European Markets Climb on Earnings Reports

A batch of strong updates from European companies helped the region's benchmark index to rise on Wednesday, as tech stocks faced their best day in ten months and all sectors produced gains.

The pan-European STOXX 600 index advanced 0.7 percent while blue chips rose 0.6 percent.

Technology stocks gained 2.2 percent in their best daily performance, since September 2016, with chipmakers ASM and STMicro advancing. Europe's tech sector has gained over 14 percent so far this year.

Dutch semiconductor equipment maker ASML rose six percent and boosted the tech sector. ASML exceeded second quarter earnings estimates due to strong demand from manufacturers of memory chips.

Household goods were among the best performers as Electrolux posted forecast-exceeding-second-quarter results. The stock rose over three percent on the news. Home appliance manufacturer Electrolux was among several Swedish companies to dominate the top of the European benchmark in afternoon deals.

Advances among banking stocks were pared by Commerzbank which dropped 3.1 percent to the bottom of Germany's DAX after USB slashed its rating on the bank to 'neutral'.

Sharp losses for builder NCC and lock maker Assa Abloy added pressure on the construction sector, which made the most modest gains.