European stocks were on course for a new record high for the first time in more than two years as the semiconductor sector got a fresh leg up from Nvidia’s sparkling results. The STOXX Europe 600 index
XX:SXXP,
which represents a continent-wide list of the bigger stocks, at one point in morning trade Thursday was up 1% to 495.81, in line to surpass the previous record close of 494.35 hit on January 5, 2022.
News overnight that U.S. AI-chipmaker Nvidia
NVDA,
-2.85%
had blown past lofty earnings expectations has triggered another bout of buying in Europe’s tech sector. One of the biggest gainers was Netherlands-based BE Semiconductor Industries
BESI,
+12.59%,
a maker of semiconductor assembly equipment, whose shares jumped 17% as it also reported a boost from AI demand. Similarly, the Dutch-listed shares of ASML
ASML,
-0.15%,
one of the biggest chip equipment makers in the world, rose 4%, while Paris-listed chipmaker STMicroelectronics
STMPA,
+3.09%
climbed 4%, and its Frankfurt-listed peer Infineon Technologies
IFX,
+2.99%
added 4%.
Germany’s DAX and France’s CAC 40
FR:PX1
have been in record territory for a while, with the Paris bourse providing propulsion via its big bevy of popular luxury goods groups such as LVMH
MC,
+0.24%
and Kering
KER,
+0.41%.
A more immediate lift was coming on Thursday from German automobile groups, with Mercedes-Benz
MBG,
+4.85%
shares up nearly 5% and leading the sector’s charge after it raised its dividend and expanded its buyback program. Other stocks lifting the index on Thursday, included London-listed drug maker Indivior
INDV,
+17.63%,
which surged 20% after it swung to a fourth-quarter pretax profit and said it is considering m …
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XX:SXXP,
which represents a continent-wide list of the bigger stocks, at one point in morning trade Thursday was up 1% to 495.81, in line to surpass the previous record close of 494.35 hit on January 5, 2022.
News overnight that U.S. AI-chipmaker Nvidia
NVDA,
-2.85%
had blown past lofty earnings expectations has triggered another bout of buying in Europe’s tech sector. One of the biggest gainers was Netherlands-based BE Semiconductor Industries
BESI,
+12.59%,
a maker of semiconductor assembly equipment, whose shares jumped 17% as it also reported a boost from AI demand. Similarly, the Dutch-listed shares of ASML
ASML,
-0.15%,
one of the biggest chip equipment makers in the world, rose 4%, while Paris-listed chipmaker STMicroelectronics
STMPA,
+3.09%
climbed 4%, and its Frankfurt-listed peer Infineon Technologies
IFX,
+2.99%
added 4%.
Germany’s DAX and France’s CAC 40
FR:PX1
have been in record territory for a while, with the Paris bourse providing propulsion via its big bevy of popular luxury goods groups such as LVMH
MC,
+0.24%
and Kering
KER,
+0.41%.
A more immediate lift was coming on Thursday from German automobile groups, with Mercedes-Benz
MBG,
+4.85%
shares up nearly 5% and leading the sector’s charge after it raised its dividend and expanded its buyback program. Other stocks lifting the index on Thursday, included London-listed drug maker Indivior
INDV,
+17.63%,
which surged 20% after it swung to a fourth-quarter pretax profit and said it is considering m …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]