European Shares Open 1 Higher On ASML Earnings Boost

July 31 (Reuters) - European shares climbed nearly 1% on Wednesday, driven by a raft of corporate updates, while heavyweight ASML led overall gains on report that the Dutch chip equipment manufacturer was exempt from a fresh U. If you have any issues pertaining to in which and how to use Smart home, you can get in touch with us at the website. S. rule on foreign chip equipment exports.

The pan-European STOXX 600 index was up 0.9%, as of 0715 GMT, and scaled a two-week high.

Shares of ASML surged 8% after Reuters reported that a new U.S. rule on foreign chip equipment exports to China will exempt some allies. The regional tech sector jumped 3.3%.

Airbus gained 5.2% after the world's largest planemaker unveiled its second-quarter results.

Jet engine and Smart home automation system equipment maker Safran climbed 1.1% after it reaffirmed its financial targets following a higher first-half profit.

Both stocks boosted the aerospace sector, which traded 1.7% higher.

Among other notable stocks, HSBC Holdings advanced nearly 3% as the bank pledged to buy back $3 billion in shares after it reported a stable first-half profit.

Schneider Electric SE gained 3.4% after the French electric equipment and Smart home automation brands Home automation systems Islamabad maker reported its first-half results.

Wolters Kluwer dropped 6% after the Dutch information services company reported its first-half results.

British drugmaker GSK dropped 1% after it raised its annual earnings and sales forecasts.

(Reporting by Pranav Kashyap in Bengaluru; Editing by Sherry Jacob-Phillips)