Refile: LIVE MARKETS-Before the bell: Tech leads Europe higher, more M&A
REFILE-LIVE MARKETS-Before the bell: Tech leads Europe higher, more M&A Refiles to new USN, no change to text
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BEFORE THE BELL: TECH LEADS EUROPE HIGHER, MORE M&A
European shares are set for a steady start on Thursday as a strong signal from Micron MU.O reignites confidence in the global AI trade after this week’s selloff.
EURO STOXX 50 .STOXX50E futures gain 0.3%, while Nasdaq contracts are up 2%, boosted by an upbeat outlook from the U.S. memory chipmaker alongside positive expectations for Qualcomm QCOM.O.
Micron’s Frankfurt-listed shares jumped 18%, lifting the semiconductor complex across Asia and Europe.
ASML ASML.AS, Infineon IFXGn.DE, Aixtron AIXGn.DE and ASM International ASMI.AS are all seen opening sharply higher, providing the main support for benchmark indices.
The broader macro backdrop is also supportive, with oil prices slipping back towards pre-conflict levels as flows through the Strait of Hormuz normalise amid progress on a U.S.-Iran deal.
M&A is another theme.
EasyJet EZJ.L rises after rejecting a fresh takeover proposal from Castlelake, while Advanced Medical Solutions AMSU.L agreed to be bought by HB Fuller in a £659 million deal.
OCI OCI.AS gains on a proposed all-cash offer, and media stocks are in focus following a report that Sky has agreed terms to buy ITV’s ITV.L broadcast and streaming unit.
On the downside, H&M HMb.ST is set to fall after weak results, while lower oil prices weigh on energy majors and miners, with stocks such as Glencore GLEN.L seen under pressure.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
MICRON PUTS CHIPS BACK IN THE TABLE CLICK HERE