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IFX - Infineon Technologies AG News Story

€32.5 1.1  3.6%

Last Trade - 07/05/21

Sector
Technology
Size
Large Cap
Market Cap £36.82bn
Enterprise Value £40.06bn
Revenue £8.70bn
Position in Universe 35th / 1050

LIVE MARKETS-Europe on the backfoot again

Mon 3rd June, 2019 6:19am
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share
your thoughts on market moves: thyagaraju.adinarayan.thomsonreuters.com@reuters.net
    
    EUROPE ON THE BACKFOOT AGAIN (0517 GMT)
    European stocks are expected to open lower again this morning on worries of a prolonged
China-U.S. trade war and Washington's new tariff threats against Mexico. The pan-European STOXX
600 index dropped 5.7% in May, its worst monthly performance since January 2016.
    "For most of this year the assumption had been that, for all the sound and fury around the
imposition of tariffs, they wouldn’t last that long and any damage could be easily mitigated.
Now it seems that tariffs are likely to last a lot longer and be more wide ranging than
originally thought," Michael Hewson at CMC Markets UK says.
    Financial spreadbetters IG expect London's FTSE to open 31 points lower at 7,131,
Frankfurt's DAX to open 69 points lower at 11,658, and Paris' CAC to open 37 points lower at
5,171.
    In corporate news, German chipmaker Infineon Technologies  IFXGn.DE  agreed to buy
U.S.-based Cypress Semiconductor  CY.O  for $23.85 per share in cash (enterprise value of 9
billion euros).
    
    (Thyagaraju Adinarayan)
    *****

 (Reporting by Danilo Masoni, Helen Reid, Josephine Mason and Thyagaraju Adinarayan)
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