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IFX - Infineon Technologies AG News Story

€32.25 0.5  1.6%

Last Trade - 4:35pm

Sector
Technology
Size
Large Cap
Market Cap £35.71bn
Enterprise Value £38.88bn
Revenue £8.03bn
Position in Universe 35th / 1050

UPDATE 2-German data, earnings nudge Europe near 4-year highs; Madrid lags

Tue 12th November, 2019 9:58am
* Vodafone, Iliad boost telecom stocks
    * Spanish stocks lag on uncertainty over new coalition 
    * Germany's DAX at near 2-year highs 
    * All eyes on Trump speech on trade 

 (Updates with market close, adds news items)
    By Sruthi Shankar and Agamoni Ghosh
    Nov 12 (Reuters) - European shares climbed back to a
four-year high on Tuesday as positive German investor sentiment
data and a slew of upbeat  earnings lifted the mood, but Spanish
stocks lagged after  socialist and far-left parties joined
forces to form a coalition.   
    Frankfurt-listed shares  .GDXAI  rose 0.6% to hover near a
22-month high after a ZEW survey showed the mood among German
investors improved more than expected in November, suggesting a
more favourable outlook after recent developments in trade
conflicts.  urn:newsml:reuters.com:*:nL8N27S34G
    The data comes ahead of German GDP numbers that are expected
to show a technical recession for Europe's largest economy,
which analysts say is mostly baked in by markets.
    "Consensus is for a decline in GDP in Q3, but the
expectation is that we're through the worst of it," said Rupert
Thompson, head of research at Kingswood. "The ZEW numbers today
may be important in terms of reinforcing that sentiment."
    The pan-European STOXX 600 index  .STOXX , rose 0.4%,
trading just 2% below its all-time highs hit in April 2015.
    The gains were led by telecoms stocks  .SXKP , which gained
1.4% boosted by the world's second largest mobile operator
Vodafone  VOD.L  after it increased its full-year earnings
guidance.  urn:newsml:reuters.com:*:nL8N27S1PF
    French mobile operator Iliad  ILD.PA  jumped 20% to the top
of STOXX 600, after announcing plans for a 1.4 billion euro
($1.5 billion) share buyback guaranteed in full by founder
Xavier Niel.  urn:newsml:reuters.com:*:nL8N27S1JY
    Among trade-sensitive chipmakers, Dialog Semiconductor
 DLGS.DE  took the spotlight, jumping 7% after it lifted its
gross and operating margin forecasts.  urn:newsml:reuters.com:*:nASM0001LO 
    Infineon Technologies  IFXGn.DE  gained 6% despite
forecasting slower growth in the year ahead as analysts said the
outlook suggests a strong recovery in the second half of 2020.
 urn:newsml:reuters.com:*:nL8N27S1AC    
    Among losers, Barry Callebaut's  BARN.S  6% slide stood out,
after investment firm Jacobs Holding said it was selling a 2.85%
stake in the company.  urn:newsml:reuters.com:*:nZ8N25401G
    
    SPAIN LAGS
    Spanish stocks  .IBEX  underperformed the broader market to
slip 0.9% after the Socialists and far-left Unidas Podemos
reached a preliminary coalition deal to form a government
following a weekend general election that delivered a highly
fragmented parliament.
    The unexpectedly fast preliminary agreement between two
parties that recently refused to work together would require
further steps, including bringing in smaller parties and
agreeing cabinet positions.  urn:newsml:reuters.com:*:nL8N27S4S6
    Nuria Alvarez, analyst at Madrid-based brokerage Renta 4,
said scepticism remains over whether the preliminary agreement
would amount to a working government. 
    State-controlled lender Bankia  BKIA.MC , whose
privatisation  Podemos has been against, slipped 4.5% after the
coalition deal was announced. 
    All eyes will now turn to U.S. President Donald Trump, set
to speak to the Economic Club of New York later in the day,
potentially offering clues on Phase One trade deal between the
United States and China.  urn:newsml:reuters.com:*:nL2N27R10D

 (Reporting by Sruthi Shankar, Susan Mathew and Agamoni Ghosh in
Bengaluru; Additional reporting by Belén Carreño and Ashifa
Kassam; Editing by Rashmi Aich and Alex Richardson)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 6328;))
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