European semis track Nvidia rally ahead of highly-anticipated Q2 results

Osram Licht AG

22/08/2023 08:59

** A chunk of European semiconductor companies rise on
Tuesday, tracking Nvidia's  NVDA.O  share price rally before the
chip designer's highly-anticipated Q2 results on Wednesday
    ** The STOXX pan-European tech index  .SX8P  rises about
1.6%
    ** Wall Street expects Nvidia to guide for a rise of about
110% in Q3 revenue to $12.50 billion, according to Refinitiv
    ** Shares of Nvidia, whose performance often ripples across
the wider chip sector, are up about 221.38% YTD, and have
already risen about 6% this week, as investors expect its strong
rally to continue 
    ** In Amsterdam, ASMI  ASMI.AS  and ASML  ASML.AS  both rise
about 3%, while BESI is up about 2.5%
    ** Over in France, STMicroelectronics  STMPA.PA  rises 2.2%,
and x-Fab  XFAB.PA  is up 3.3%, while in Germany Infineon
 IFXGn.DE  rises 2%, and Varta  VAR1.DE  climbs 4% 
    ** Austria-based AMS Osram  AMS.VI  +2%, and Switzerland's
VAT Group  VACN.S  +2.3%
    
  

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))