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European shares higher on hopes of Fed action, chip stocks gain on Apple report

Published 10/04/2019, 03:37 PM
Updated 10/04/2019, 03:40 PM
© Reuters. European shares higher on hopes of Fed action, chip stocks gain on Apple report
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 4 (Reuters) - European shares rose on Friday as
investors were hopeful of further monetary easing from the U.S.
Federal Reserve in the wake of poor economic data, while chip
stocks nudged higher after a report said Apple was increasing
production of its new iPhone models.
The pan-European STOXX 600 .STOXX index rose 0.3% by 0713
GMT, led by a 1% jump in the technology index .SX8P .
Chipmakers were among the top gainers after a report said Apple
Inc AAPL.O would increase its iPhone 11 production.
Shares of chipmakers AMS AMS.S , Infineon Technologies
IFXGn.DE , STMicro STM.PA and Dialog Semiconductor DLGS.DE
jumped between 2.7% and 3.6%.
In a turbulent week for markets roiled by weak readings on
factory and services sector activity in the United States and
the euro zone, as well as U.S. tariffs on European Union goods,
the STOXX 600 was on course to post its worst weekly performance
in about a year.
U.S. payrolls data, due at 12:30 pm GMT, will give more
insight into the health of the world's largest economy,
particularly after the dismal data this week spurred a sell-off
in equities globally. Shares of London Stock Exchange Group plc LSE.L rose 2.5%
after reports that some of the bourse operator's shareholders
told Hong Kong Exchanges and Clearing 0388.HK to increase its
takeover offer by 20%.

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