European shares hit a record high ​on Wednesday, recovering after a modest dip a day earlier, as gains in utility and healthcare indexes helped push aside ⁠weakness in media and defence stocks.

The pan-European STOXX 600 rose 0.3% by 0926 GMT.

Investors took early cues from corporate updates, ⁠with attention expected ‌to shift later to a possible U.S. Supreme Court ruling on the legality of President Donald Trump's tariffs.

"If the Supreme Court smacks down these tariffs, the first response is going ⁠to be fairly positive. But it's very unlikely the U.S. administration is going to roll over," Kyle Rodda, senior financial market analyst of Capital.com told Reuters.

Back in Europe, utility shares were the biggest winners, climbing 1.3%.

Energy firms RWE and SSE added 2.9% and 1.4%, respectively. The companies were

among the project ⁠developers to win guaranteed electricity price contracts ​in Britain's latest offshore wind power auction, which secured a record capacity.

HEALTHCARE GAINS, DEFENCE RALLY PAUSES

Healthcare stocks rose 1% after Finnish ‍drugmaker Orion climbed 12.4% to its highest since October, following a better-than-expected revenue forecast for 2026.

AstraZeneca added 2%, a day after it said ​it had agreed to buy Boston-based Modella AI.

Luxury stocks climbed 1% early in the session. The index is expected to be in focus through the session after high-end department store conglomerate Saks Global filed for bankruptcy late on Tuesday.

Gucci-owner Kering and the world's biggest luxury conglomerate LVMH were listed as unsecured creditors to the company. Their shares were up 0.3% each.

"The situation raises concerns about consumer demand, especially at the higher end of the market, and about extreme competition in the space, including from e-commerce," Rodda said.

Media stocks fell 1%. British education company Pearson dropped 5% after its biggest division lost a contract with New Jersey.

Defence stocks also fell 0.5%, ending ⁠an eight-session run of gains.

Meanwhile, Germany's DAX index was marginally lower, set ‌to snap its longest winning streak in more than a decade should current levels hold.

Investors will also parse earnings updates from U.S. lenders Bank of America and Citigroup. Their executives are expected to weigh in on ‌Trump's plan ⁠to cap credit card interest rates for a year.

On Tuesday, JPMorgan Chase's top brass said such a move would hurt ⁠consumers.

(Reporting by Niket Nishant in Bengaluru; Editing by Janane Venkatraman and Harikrishnan Nair)