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IFX - Infineon Technologies AG News Story

€31.35 -0.3  -0.9%

Last Trade - 17/05/21

Sector
Technology
Size
Large Cap
Market Cap £35.44bn
Enterprise Value £38.65bn
Revenue £8.61bn
Position in Universe 37th / 1053

REFILE-LIVE MARKETS-When the tech heaven shuts down...

Tue 14th July, 2020 12:40pm
(Corrects typo, wrong word) * ZEW outlook for Germany largely unchanged in July * Hexagon jumps on upbeat forecast * Halma's shares slid after results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. WHEN THE TECH HEAVEN SHUTS DOWN... (1022 GMT) European stocks were hit by a selloff in tech stocks after California reimposed lockdown restrictions following a surge of coronavirus cases. urn:newsml:reuters.com:*:nL2N2EK2A7 Europe's technology sector .SX8P was disproportionately impacted by the reimposition of restriction measures in the "tech-haven" U.S. state, says Spreadex analyst Connor Campbell. "California is specifically a tech haven, so this is going to have a disproportionate effect on tech stocks," Campbell says. "That is the home of American tech, if that spreads further, if lockdown restrictions get tighter in California than this will eventually get a knock-on effect on those big tech firms." Tracking overnight declines in U.S. tech companies, shares in SAP SAPG.DE , ASML ASML.AS , Prosus PSX.AS and Infineon Technologies IFXGn.DE fell about 4-5%, with Europe's tech index declining around 3-4%. Here is a chart: (Joice Alves) ****** OPENING SNAPSHOT: SELLOFF LED BY TECH SHARES (0745 GMT) A selloff in tech shares is pushing Europe’s equities lower, amid rising tensions between U.S. and China. urn:newsml:reuters.com:*:nL2N2EK1IX The pandemic in the U.S. also weighs on the mood and U.S. tech majors lost momentum on Monday after California's governor clamped new restrictions on businesses as coronavirus cases and hospitalizations soared. urn:newsml:reuters.com:*:nL2N2EK0YN The STOXX 600 is 1.7% lower, with tech shares down 3.2% after a recent strong rally. Travel and leisure stocks are down 2.2% and healthcare shares down 1.6%. Best performers Hexagon HEXAb.ST up 5.2% and Hellofresh HFGG.DE after results. Atlantia ATL.MI up 2.9% on press reports it could avoid a default on its multi-billion euros debt. Halma's shares HLMA.L slid 6% to the bottom of the STOXX after it said it expected both profit and revenue to fall in its fiscal year 2021 and announced potential job cuts. (Stefano Rebaudo) ***** ON THE RADAR: SWATCH, ROCHE, HELLOFRESH, OCADO (0645 GMT) In a data-heavy morning, futures are pointing to a start of the day in the red as a risk-off session is on track following new coronavirus worries and growing tensions between the U.S. and China. On the corporate front, the earnings season is getting started. Shares in Swatch Group UHR.S are down 2.3% in premarket trade after a net loss in H1 but with expectations of improving sales and profits in the second half. urn:newsml:reuters.com:*:nFWN2EL035 Hellofresh HFGG.DE stocks are up 5.7% in early trade after results. urn:newsml:reuters.com:*:nASN000992 British online supermarket Ocado OCDO.L said retail revenue soared 27% year-on-year in its first half to May 31. urn:newsml:reuters.com:*:nASN00099P Norwegian oil firm Aker BP AKEBP.OL swung to a pretax profit in the second quarter on record output and a partial reversal of impairments from the previous quarter. urn:newsml:reuters.com:*:nL5N2EK4OZ Roche ROG.S will pay up to $1.7 billion to Blueprint Medicines to help develop and commercialise a new treatment for people with so-called RET-altered cancers that have mutations that drive tumour growth. Atlantia ATL.MI holds an extraordinary board meeting. According to several newspapers, one idea under consideration is for Autostrade per l'Italia to be run by state-appointed administrators, allowing the motorway operator to avoid default on its 10 billion euros of debt and operate without interrupting services. Cellnex eyes stake in $11 bln CK Hutchison tower arm, Bloomberg News reported. urn:newsml:reuters.com:*:nL3N2EK2YN (Stefano Rebaudo) ***** MORNING CALL: RISK-OFF ON RENEWED PANDEMIC WORRIES (0533 GMT) European futures are well in the red this morning, as U.S.-China tensions and new restrictions in California to fight the outbreak are expected to trigger a risk-off session. Investors are worried that new lockdowns could dampen the recovery globally, but U.S. consumers seem more confident that the worst of the economic crisis sparked by the pandemic is over urn:newsml:reuters.com:*:nL2N2EK13E. In the background the earnings season getting under way, which spurred some optimism with most companies expected to beat forecast as the bar has been set pretty low. (Stefano Rebaudo) ***** <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ STOXX tech https://tmsnrt.rs/2BZQHNO ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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