European semis rise as US, China reach tariffs deal

Melexis NV

12/05/2025 08:53

** European semiconductor stocks rise after the U.S. and China have agreed a deal to slash reciprocal tariffs

** The STOXX pan-European tech index .SX8P is up around 3% to its highest in more than 2-1/2 months

** Shares of ASML ASML.AS, ASMI ASMI.AS, BESI BESI.AS, STM STMPA.PA, Infineon IFXGn.DE and Melexis MLXS.BR rise between 6% and 10%

** The sector has been sensitive to tariffs-related newsflow, as the levies impact its end-markets such as autos

** Separately, Deutsche Bank upgraded Melexis to "buy" from "hold," citing the completion of inventory correction across auto semis and the chipmaker's success in the Chinese EV market

 (Reporting by Leo Marchandon)

 ((Leo.marchandon@thomsonreuters.com))