European tech and semiconductor stocks up on Samsung, Aixtron Q2 results
05/07/2024 11:15
** Shares of European tech and semiconductor companies rise
after Samsung, world's largest memory chip, smartphone and TV
maker, estimated a more than 15-fold rise in its Q2 operating
profit, while Aixtron reported strong order intake despite
guidance cut
** The pan-European STOXX tech index .SX8P rises 1.3%,
leading sectoral gains on the wider STOXX 600 .STOXX index
** "Aixtron has released its prelim results with a stronger
order intake especially on silicon carbide (SiC) where the
momentum was too weak in the last few months, so maybe the
momentum in SiC investment is not as bad as feared," Martin
Marandon-Carlhian from ODDO BHF says
** He said that this is a bit of relief and positive for
companies exposed to power such as Infineon IFXGn.DE and
STMicroelectronics STMPA.PA
** German chip manufacturer Infineon IFXGn.DE and
Franco-Italian chipmaker STMicroelectronics STMPA.PA rise 2.9%
and 2.8%, respectively
** "There is also another thing for companies mostly exposed
to AI memory and overall semiconductor market, like ASML, ASM
International and BE Semiconductor, there was preliminary
results from Samsung this morning which were better than
expected," Marandon-Carlhian added
** Semiconductor production equipment maker ASML ASML.AS ,
ASM International ASMI.AS and BE Semiconductor BESI.AS are
up 1.3%, 0.8% and 0.3%, respectively
** Swiss Sensor maker AMS Osram AMS.S and Soitec SOIT.PA
jump 2%-7%, while Nordic Semiconductor NOD.OL and Siltronic
WAFGn.DE rise around 3%
** Aixtron AIXGn.DE shares jump 16.5% on strong Q2 order
intake and are set for their best day since June 2021
(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))