欧洲股市周三反弹，斯托克50指数上涨近1%，斯托克600指数上涨超过0.5%。奢侈品股领涨，此前路威酩轩集团因收入强于预期而上涨12%，提振了同行爱马仕（+7%）、Moncler（+7%”）、历峰集团（+6%）、开云集团（+5.3%）和博柏利（+3.3%）。科技股也表现良好，ASML在乐观的收益和令人放心的2026年预期后上涨3.4%，这得益于与人工智能投资相关的需求。与此同时，德国的Aurubis股价下跌超过6%，此前Salzgitter发行了5亿欧元与其股份挂钩的可转换债券。法国CAC 40指数上涨2.2%，为4月以来最好的一天，投资者押注总理Sebastien Lecornu的新政府将在即将到来的不信任投票中幸存下来。Lecornu承诺将不受欢迎的养老金改革暂停到2027年之后，以确保社会党的支持，市场情绪进一步改善。当天晚些时候，在美国财政部长斯科特·贝森特暗示可能推迟对中国征收关税后，贸易紧张局势也有所缓解。

European stocks rebounded on Wednesday, with the Stoxx 50 up nearly 1% and the Stoxx 600 gaining over 0.5%. Luxury stocks led the rally after LVMH jumped 12% on stronger-than-expected revenues, lifting peers Hermès (+7%), Moncler (+7%), Richemont (+6%), Kering (+5.3%), and Burberry (+3.3%). Tech shares were also performimg well with ASML rising 3.4% after upbeat earnings and reassuring guidance for 2026, boosted by demand linked to AI investments. Meanwhile, Germany’s Aurubis fell over 6% after Salzgitter issued €500 million in convertible bonds tied to its stake. France’s CAC 40 climbed 2.2%, its best day since April, as investors bet Prime Minister Sebastien Lecornu’s new government will survive upcoming no-confidence votes. Sentiment improved further after Lecornu pledged to suspend the unpopular pension reform until after 2027, securing Socialist backing. Trade tensions also eased late in the day after US Treasury Secretary Scott Bessent hinted tariffs on China could be delayed.

2025年8月，欧元区工业生产环比下滑1.2%，扭转了7月份向上修正的0.5%的增长，勉强超过了市场预期的1.6%的下降。资本品产出是主要拖累因素，在7月份增长1.7%后下降2.2%，其次是耐用消费品（-1.6%对1.2%）、能源（-0.6%对-1.7%）和中间产品（-0.2%对0.5%）。非耐用消费品产出几乎停滞在0.1%，而7月份为1.8%。在欧元区最大的经济体中，德国（-5.2%对1.5%）、意大利（-2.4%对0.4%）、法国（-0.7%对-0.1%）和西班牙（-0.1%对-0.5%）的产出下降，而荷兰在上个月下降1.3%后增长了2.3%。按年度计算，欧元区工业生产增长从7月份的2.0%放缓至8月份的1.1%。

Eurozone industrial production slipped 1.2% month-over-month in August 2025, reversing an upwardly revised 0.5% gain in July and narrowly beating market expectations of a 1.6% drop. Capital goods output was the main drag, falling 2.2% after a 1.7% increase in July, followed by declines in durable consumer goods (-1.6% vs 1.2%), energy (-0.6% vs -1.7%), and intermediate goods (-0.2% vs 0.5%). Non-durable consumer goods output nearly stagnated at 0.1% compared with 1.8% in July. Among the Eurozone’s largest economies, output fell in Germany (-5.2% vs 1.5%), Italy (-2.4% vs 0.4%), France (-0.7% vs -0.1%), and Spain (-0.1% vs -0.5%), while the Netherlands posted growth of 2.3% after a 1.3% decline the previous month. On an annual basis, Eurozone industrial production growth slowed to 1.1% in August from 2.0% in July.

欧元从周二触及的两个多月低点1.154美元反弹至1.16美元上方，投资者对法国政治稳定的迹象表示欢迎，并评估了美国降息预期的上升。法国总理Lecornu告诉议会，他支持在2027年总统选举之前暂停养老金改革，旨在确保社会党的支持，并在周四的关键不信任投票中幸存下来。在美国，美联储主席鲍威尔强调了劳动力市场的持续恶化，强化了本月再次降息的预期。这种温和的前景与欧洲央行的预测形成鲜明对比，后者表明利率可能保持不变。与此同时，随着特朗普总统暗示华盛顿可能结束与中国的某些贸易关系，美中贸易紧张局势加剧。在特朗普威胁对中国商品征收100%关税以及北京对稀土出口实施更严格控制之后，两国都对对方的航运公司征收了额外的港口费。

The euro bounced back above $1.16, recovering from a more than two-month low of $1.154 hit on Tuesday, as investors welcomed signs of political stabilization in France and assessed rising expectations of US interest rate cuts. French Prime Minister Lecornu told parliament he supports suspending pension reforms until the 2027 presidential election, aiming to secure Socialist backing and survive crucial no-confidence votes on Thursday. In the US, Fed Chair Powell highlighted ongoing deterioration in the labor market, reinforcing expectations of another rate cut this month. This dovish outlook contrasts with ECB projections, which suggest interest rates are likely to remain unchanged. Meanwhile, US–China trade tensions intensified as President Trump signaled Washington might end certain trade ties with China. Both nations imposed extra port fees on each other’s shipping firms, following Trump’s threat of 100% tariffs on Chinese goods and Beijing’s tighter controls on rare earth exports.

欧洲股市周三上涨，STOXX 50指数上涨1.2%，STOXX 600指数上涨0.7%，此前该指数在前一交易日下跌，交易员对新一批公司业绩表示欢迎。奢侈品行业是表现最好的行业之一，在LVMH的收入超过预期后，其股价飙升了12%。其他奢侈品品牌也强劲上涨，包括开云集团（+8.3%）、博柏利（+6.6%）、爱马仕（+6.3%），Moncler（+6.8%）和历峰集团（+5.4%）。ASML控股公司股价上涨2.6%，尽管收入略有下降，但盈利好于预期。该公司表示，预计其2026年的净销售额不会低于2025年的水平，有关人工智能相关承诺的“积极消息”有助于缓解一些持续的不确定性。法国资产领涨，此前法国总理塞巴斯蒂安·莱科尔努昨日宣布，他将暂停一项有争议的养老金改革，直到2027年大选之后，这是埃马纽埃尔·马克龙总统的关键政策举措之一。

European stocks climbed on Wednesday, with the STOXX 50 rising 1.2% and STOXX 600 adding 0.7% after losses in the previous session, as traders welcomed a fresh batch of corporate results. The luxury sector was among the top performers, boosted by a 12% surge in LVMH shares after the company’s revenues exceeded forecasts. Other luxury names also advanced strongly, including Kering (+8.3%), Burberry (+6.6%), Hermès (+6.3%), Moncler (+6.8%), and Richemont (+5.4%). ASML Holding added 2.6% after posting better-than-expected earnings despite slightly lower revenues. The company said it does not expect its 2026 net sales to fall below 2025 levels, and that “positive news” regarding AI-related commitments helped ease some ongoing uncertainties. French assets led the rally after Prime Minister Sébastien Lecornu announced yesterday that he would suspend a controversial pension reform until after the 2027 election, one of President Emmanuel Macron’s key policy initiatives.