Live Markets: Tech supports STOXX as chips extend recovery

ASML Holding

10/08/2026 09:11

Adds blog post
STOXX 600 broadly unchanged
Tech leads sectoral gainers
US inflation data this week awaited
Nasdaq futures up 0.5%
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TECH SUPPORTS STOXX AS CHIPS EXTEND RECOVERY
Europe got off to a muted start on Monday, with the STOXX 600 .STOXX hovering around flat after Friday's record close as investors kept an eye on geopolitical risks.
Tech .SX8P rose 1%, providing the biggest uplift to the pan-European index, which was up less than 0.1%. 
Chip stocks extended a recovery from multi-month lows hit during July's turbulent trading when investors unwound leveraged positions linked to the AI infrastructure theme, bringing back the focus to shor- term fundamental strength linked to AI demand.
Following gains in South Korea's KOSPI .KS11 and Taiwan's benchmark index .TWII, European chip heavyweight ASML ASML.AS rose more than 2%, although it remains over 13% below its record high reached earlier this year.
Nvidia NVDA.O shares gained about 1% in Frankfurt ahead of earnings later this month, while Nasdaq futures advanced 0.5%. Most other sectors in Europe traded lower, with media stocks .SXMP leading declines and falling about 1% after a recent rebound in the battered sector.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPE DIPS FROM HIGHS AS EARNINGS SEASON NEARS FINISH LINE CLICK HERE
SUDDENLY THE STRAIT OF HORMUZ IS 'IRRELEVANT' TO THE US CLICK HERE