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(Reuters) – European shares hit one-week highs on Thursday, with chipmakers lifting the technology sector after industry bellwether Nvidia far exceeded expectations with its quarterly
revenue forecast, and as easing bond yields also improved risk sentiment.
By 0707 GMT, the pan-European STOXX 600 was up 1%, opening higher for a fourth straight session.
Tech stocks jumped 1.8% with chipmakers leading gains after Nvidia, the world’s most valuable chipmaker, forecast higher-than-anticipated quarterly revenue and also announced a share buyback
programme.
Shares of ASM International, BE Semiconductor, ASML Holding and Aixtron were among the early gainers, rising between 2.5% and 3.5%.
European retailers added 1.3% after falling more than 1% in the previous session.
Further lifting gains were easing bond yields across Europe, with German bund yields, considered as the region’s benchmark, easing to 2.46%.
Among individual stocks, Symrise gained 2.5% after Morgan Stanley upgraded the German flavour and fragrance maker to “overweight” from “underweight”.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips)
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