ASML Holding N.V, based in the Netherlands, now ranks second among Europe’s most valuable companies, boasting a market value of €377 billion.
ASML develops and manufactures machines used to produce computer chips.
It has now surpassed French conglomerate LVMH, which specialises in luxury goods, and is second only to Danish insulin producer Novo Nordisk.
On Wednesday, the Dutch firm’s stock grew by 8% following news that it would supply powerful new machines to tech giant TSMC by yearend.
On the other hand, LVMH’s shares continued on a downward trend, with investors fearing a drop in demand for luxury goods.
