🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Semiconductors, China stimulus hopes push European shares higher

Published 08/16/2019, 03:45 PM
Updated 08/16/2019, 03:50 PM
Semiconductors, China stimulus hopes push European shares higher
UK100
-
DE40
-
STMPA
-
IFXGn
-
AMAT
-
NVDA
-
LSEG
-
FTMC
-
STOXX
-
AMS
-
SX8P
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Aug 16 (Reuters) - European shares churned higher on Friday,
boosted by positive sentiment after China hinted on plans to
spur economic growth while chipmaker stocks in the region
propped up markets, helped by solid earnings news from U.S.
counterparts.
But overall gains were not baked in as the London Stock
Exchange LSE.L said on Friday it was investigating a technical
glitch, which delayed the open of the UK blue-chip FTSE 100
.FTSE and FTSE midcap .FTMC indexes.
China's state planner said it will roll out a plan to boost
disposable income this year and in 2020 to encourage consumption
as the economy slows. The pan-European STOXX 600 index .STOXX was 0.7% higher by
0742 GMT, with the trade-sensitive DAX index .GDAXI
outperforming.
The benchmark index was still on pace to log a third
straight week of losses, as mounting worries of a global
recession sparked in part by the long-drawn U.S.-China trade
war, kept investors on the edge.
Leading the charge on the STOXX 600 was a rally in
semiconductor companies, which pushed the technology sector
.SX8P up 1.2% - with AMS AMS.S , Infineon Tech IFXGn.DE and
STMicroelectronics STM.MI making substantial gains.
Better-than-expected results from gaming chip maker Nvidia
NVDA.O and chip gear maker Applied Materials AMAT.O
overnight helped reinforce the rally.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.