周三，欧洲股市开局不利，因为面对美国总统唐纳德·特朗普迅速演变的贸易政策，投资者情绪仍然谨慎。在早盘交易中，欧洲斯托克50指数和斯托克600指数期货分别下跌1.2%和1%，表明整个地区出现了广泛的回调。交易员们也在等待关键经济数据的发布，包括英国通胀数据和欧元区经常账户数据，以寻求进一步的方向。在企业方面，ASML的最新盈利报告削弱了市场情绪。这家荷兰半导体巨头第一季度的净预订量低于预期，引发了人们对芯片需求可能疲软的担忧。

European equity markets were poised for a weaker start on Wednesday, as investor sentiment remained cautious in the face of U.S. President Donald Trump’s rapidly evolving trade policies. In early premarket trade, Euro Stoxx 50 and Stoxx 600 futures fell 1.2% and 1%, respectively, pointing to a broad-based pullback across the region. Traders also awaited key economic data releases, including UK inflation figures and Eurozone current account data, for further direction. On the corporate front, sentiment was dented by ASML’s latest earnings report. The Dutch semiconductor giant posted weaker-than-expected net bookings in the first quarter, raising concerns over a potential softening in chip demand.

欧洲股市周二收高，延续了上一交易日的大幅上涨，此前美国可能暂停汽车和零部件关税的前景支撑了欧洲经济的关键部门。欧元区STOXX 50指数上涨1.2%，泛欧STOXX 600指数上涨1.6%。特朗普总统周一的言论提振了投资者情绪，表明他正在考虑暂时豁免进口汽车和零部件的关税，以便汽车制造商有更多时间扩大在美国的生产。除了帮助企业接触汽车行业外，这些言论还支持了美国总统可能不会在不考虑市场反应的情况下通过关税的希望。Stellantis飙升6.5%，大众汽车和宝马各上涨3%。此外，桑坦德银行和联合信贷银行各增加了3%以上，为银行设定了步伐。另一方面，路威酩轩集团在公布了第一季度令人失望的收入后，股价下跌了7%以上。

European stocks closed firmly higher on Tuesday, extending the sharp gains from last session after prospects that the US could pause tariffs for autos and parts supported key sectors of the European economy. The Eurozone's STOXX 50 gained 1.2% and the pan-European STOXX 600 jumped 1.6%. Investor sentiment was buoyed by President Trump’s remarks on Monday, indicating he is considering temporary exemptions on tariffs for imported vehicles and parts to give automakers more time to expand US-based production. Besides aiding companies with exposure to the auto sector, the remarks supported hopes that the US President may refrain from passing tariffs without regards to market reactions. Stellantis surged 6.5% while Volkswagen and BMW added 3% each. Also, Santander and UniCredit added over 3% each to set the pace for banks. On the other hand, LVMH sank over 7% after releasing underwhelming revenues for the first quarter.

2025年2月，欧元区工业生产同比增长1.2%，扭转了1月份修正后的0.5%的下降趋势，超过了市场预期的0.8%的下降。这标志着22个月来的首次年度增长，主要得益于非耐用消费品产量激增9.7%（高于1月份的5.9%）和能源生产反弹1.4%（此前为-1.4%）。然而，其他类别的产出持续下降，中间产品（-2.7%对-1.3%）、耐用消费品（-2.3%对持平）和资本品（-1.8%对-3.2%）的产出下降。

Eurozone industrial production rose by 1.2% year-on-year in February 2025, reversing a revised 0.5% decline in January and outperforming market expectations of a 0.8% drop. This marked the first annual growth in 22 months, driven largely by a 9.7% surge in the output of non-durable consumer goods (up from 5.9% in January) and a 1.4% rebound in energy production (vs. -1.4% previously). However, declines persisted in other categories, with output falling for intermediate goods (-2.7% vs. -1.3%), durable consumer goods (-2.3% vs. flat), and capital goods (-1.8% vs. -3.2%).

2025年2月，欧元区工业生产环比增长1.1%，高于1月份向下修正的0.6%的增长，轻松超过市场预期的0.3%的增长。这标志着自2024年8月以来最快的月度增长，主要得益于非耐用消费品（2.8%，1月份为-2.4%）和资本品（0.8%，之前持平）的强劲反弹。中间产品生产也有所增长，但速度较慢（0.3%对1.4%）。与此同时，能源产品（-0.2%对-1.1%）和耐用消费品（-0.3%对-1.5%）的产出继续下降，标志着连续第二个月出现收缩。按年计算，工业生产增长1.2%，结束了21个月的连续下降，超过了0.8%的下降预测。

Eurozone industrial production rose by 1.1% month-over-month in February 2025, accelerating from a downwardly revised 0.6% increase in January and easily beating market expectations of a 0.3% gain. This marked the fastest monthly growth since August 2024, driven primarily by strong rebounds in the output of non-durable consumer goods (2.8% vs. -2.4% in January) and capital goods (0.8% vs. flat previously). Intermediate goods production also rose, though at a slower pace (0.3% vs. 1.4%). Meanwhile, output continued to decline for both energy products (-0.2% vs. -1.1%) and durable consumer goods (-0.3% vs. -1.5%), marking a second straight month of contraction. On an annual basis, industrial production increased by 1.2%, ending a 21-month streak of declines and outperforming forecasts of a 0.8% drop.