European semiconductor stocks rise after ASML maintains outlook for 5 years

Nordic Semiconductor ASA

14/11/2024 11:29

** Shares in European semiconductor companies rise after
computer chip equipment maker ASML  ASML.AS  maintained guidance
for the coming five years on the AI demand boom
    ** STOXX tech index  .SX8P  rises 2% to over two-week high,
leading sectoral gains on the wider STOXX 600  .STOXX  index,
which is up 0.6%
    ** ING FM analyst Marc Hesselink says that ASML provided
some reassuring news, which is pulling up the other semi names
in Europe
    ** "ASML's perspective is a great indicator for the sector
development," analyst Maissa Keskes at ODDO BHF says
    ** "Since they maintained their targets, meaning that
increasing chip demand is expected which will drive their
equipment orders," she says, citing that it is a positive sign
for the whole sector
    ** German chip manufacturer Infineon  IFXGn.DE  and
Franco-Italian chipmaker STMicroelectronics  STMPA.PA  rise 2%
and 2.5%
    ** Chipmaking equipment maker ASM International  ASMI.AS ,
BE Semiconductor  BESI.AS  and ASML  ASML.AS  shares are up
between 2% and 5.5%
    ** Nordic Semiconductor  NOD.OL  is up 3.1%, while ams OSRAM
 AMS.S  rises 2.2%


 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))