European chip stocks gain on upbeat earnings, BESI upgrade
BUZZ-European chip stocks gain on upbeat earnings, BESI upgrade ** European semiconductor stocks rise on Monday as strong results from AT&S ATSV.VI and ams OSRAM AMS.S as well as Berenberg's upgrade of BESI BESI.AS add to positive sector sentiment
** AT&S surges as much as 15% after reporting Q1 earnings, with Erste Group flagging a "beat on profitability, strong AI demand continues"
** ams OSRAM gains 10% after posting Q2 figures and Q3 guidance above expectations
** Berenberg ups BESI to "buy" from "hold," seeing opportunity in recent market weakness as the company's mainstream end-markets recover and AI-related demand remains strong
** Among other companies in the sector, Soitec SOIT.PA leads the gains with +7.2%, followed by Besi BESI.AS up 4.4% and X-Fab XFAB.PA +3.6%
** Aixtron AIXGn.DE is up 2.7% and Infineon IFXGn.DE1 3.5%
** Umicore UMI.BR rises 3.2%, ASML ASML.AS gains 2.4% and ASMI ASMI.AS is up 2.3%
(Reporting by Leo Marchandon in Gdansk)
Recent news on AT & S Austria Technologie & Systemtechnik AG
See all newsAustria's AT&S Q2 revenue jumps on capacity expansion, maintains full-year forecast
Brief: At&S Q2 EBITDA Up 152% To €244 Million
EU chip stocks fall as Intel forecast, Big Tech results revive AI fears
European shares shrug off HSBC miss as other earnings, oil relief lift sentiment
European AI-exposed stocks fall after hot US inflation fuels global selloff