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April 17 (Reuters) - European shares were flat on

Wednesday, hovering near more than a month's low, with quarterly

earnings reports from legacy names like ASML, LVMH and Adidas in

the spotlight and as investors kept an eye on developments in

the Middle East.

The continent-wide STOXX 600 was flat at 0717 GMT,

after notching its worst day in nine months in the previous

session on concerns about escalating geopolitical tensions.

First-quarter earnings reports will help assess the health

of corporate Europe against the backdrop of high interest rates.

Overall profits are expected to have declined 12.1% from the

previous year, according to LSEG data.

Among top movers, ASML dropped 4.8%, steering a

1.8% decline in the technology sector after the Dutch

firm reported weaker-than-expected new bookings in its

first-quarter earnings.

On the flip side, LVMH rose 2% and helped limit

losses on the benchmark index after the world's largest luxury

group's quarterly sales rose 3%, offering some reassurance to

investors concerned about the industry's outlook, particularly

in China.

Adidas jumped 5.4% as the German sportswear giant

hiked its outlook for 2024 after posting better-than-expected

preliminary results for the first quarter.