Live Markets: Industrials and chips drive STOXX bounce

Legrand SA

17/07/2025 09:18

STOXX 600 up 0.7%

Record TSMC profit lifts chip stocks

Industrials top gainers, airlines weak

Wall St futures nudge higher

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        INDUSTRIALS AND CHIPS DRIVE STOXX BOUNCE

With concerns about Federal Reserve Chair Jerome Powell's tenure temporarily set aside, traders shifted their focus back to earnings season on Thursday, taking comfort from a batch of strong results from the industrial goods sector.

Well-received updates from ABB ABBN.S, Legrand LEGD.PA, and Diploma DPLM.L drove the broader industrials index .SXNP up 2% to a new record high. The sector was the leading contributor to gains in the region-wide STOXX 600 .STOXX, which rose 0.7% and rebounded from the previous day's losses.

A record profit from TSMC 2330.TW, the world's leading producer of advanced AI chips, helped chip stocks bounce back. ASML ASML.AS rose over 1%, partly recovering from the slump on Wednesday when it warned about 2026 sales growth.

After sliding 18% on a guidance cut on Wednesday, Renault RENA.PA hit a new bottom.  Airlines were also weak after easyJet EZJ.L warned that higher fuel costs and a French strike would hit its profits.

(Danilo Masoni)

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EARLIER ON LIVE MARKETS:

BEFORE THE BELL: POWELL ASIDE, EARNINGS RETAKE CENTRE STAGE CLICK HERE

MARKETS STOIC OVER POWELL'S SHIFTING FATE CLICK HERE

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