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IFX - Infineon Technologies AG News Story

€31.62 1.0  3.3%

Last Trade - 14/05/21

Large Cap
Market Cap £35.44bn
Enterprise Value £38.65bn
Revenue £8.61bn
Position in Universe 36th / 1053

LIVE MARKETS-On our radar: chips are down

Fri 27th September, 2019 7:40am
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Josephine Mason and Joice Alves. Reach them on Messenger
to share your thoughts on market moves: and

    For a Friday, it's relatively busy on the corporate news front, but the main focus for
investors will likely be chipmakers after Micron's warning overnight which will underscore
worries about the health of smartphone demand amid tensions between the United States and China.
    Infineon  IFXGn.DE , AMS  AMS.S , Siltronic  WAFGn.DE  are seen under pressure.
    Italian oil and gas group Eni  ENI.MI  will be in focus after news its chief executive,
Claudio Descalzi, was under investigation for a conflict of interest issue over dealings in the
Congo. Its Var Energi AS has bought Exxon Mobil's  XOM.N  Norwegian oil and gas assets for $4.5
    Good news for Pirelli  PIRC.MI  after shareholder Camfin said it has underwritten a
financial instrument which gives the holding company the right to increase its stake in
tyremaker up to 15% from current 10.1%.
    Elsewhere in Italy, one dealer says Telecom Italia  TLIT.MI  shares may get a lift after
chairman Conti has resigned.
    Europe's beleaguered banking sector remains in the spotlight - Commerzbank  CBKG.DE  has
warned it no longer expects a rise in underlying revenue this year while its supervisory board
approved plans announced last week to cut thousands of staff and close a fifth of its branches.
Shares are down 2.6% in pre-market trade.

    Here are some early headlines:
    Commerzbank cuts revenue forecast as board approves overhaul*:nL5N26H5UP
    Eni CEO searched, under investigation over dealings in Congo*:nL5N26H6SR
    Exxon to sell Norway assets to Eni's Var Energi for $4.5 bln*:nL5N26H60P
    Westinghouse to buy Rolls-Royce's North American Civil Nuclear unit*:nL5N26H6Z0
    BMW not interested in settling EU cartel investigations - WirtschaftsWoche*:nL5N26I0LV
    Telecom Italia chairman quits as shareholder feud subsides*:nL5N26H3RX
    Capgemini Receives Clearance For Its Proposed Acquisition Of Altran*:nASP0017DU
    Carrefour completes sale of 80% stake in Carrefour China to*:nASP0017DX
    Rheinmetall AG Regional Disruption Of Production Due To Malware At Rheinmetall Automotive*:nFWN26H0PM    
    (Josephine Mason and Joice Alves)

    European stocks are expected to open higher, displaying some resilience to pressure
overnight in Asia and Wall Street amid renewed optimism, albeit fragile, about the U.S.-China
trade tensions with reports of another round of official talks aimed at ending the protracted
spat due in two weeks.*:nL2N26H1TY*:nL2N26H08G
    But gains will be tentative after a Q1 profit warning from U.S. chipmaker Micron  MU.O 
which has stirred anew worries about demand for memory chips and about the damage from
Washington's dispute with Beijing. Micron's shares were down nearly 6.5% on Wall Street and the
news has upset Asian rivals overnight.
    Adding further gloom to the tech sector were media reports that Washington is unlikely to
allow American firms to supply China's Huawei Technologies  HWT.UL , one of the world's top
smartphone makers, undermining hopes of a complete deal between the world's top two economies.
    IG financial spreadbetters expect London's FTSE to open 12 points higher at 7,363,
Frankfurt's DAX to open 10 points higher at 12,299, and Paris' CAC to open 3 points lower at
    Still, the pan European and euro-zone benchmark indices  .STOXX   .STOXXE  have had a torrid
week amid fresh political tumult on both sides of the pond and worries about the euro-zone
economy and are set for their first weekly drop since mid-August.
    (Josephine Mason and Joice Alves)

 (Reporting by Danilo Masoni, Josephine Mason, Joice Alves and Thyagaraju Adinarayan)
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