Nvidia 'stellar' Q3 outlook, buyback lift European semis and tech stocks

Osram Licht AG

24/08/2023 08:26

** Shares in chip-makers and tech companies rise after
Nvidia  NVDA.O  far exceeded expectations with its quarterly
revenue forecast on Wednesday and said it would buy back $25
billion in stock
    ** The company said an artificial-intelligence boom fuelled
demand for its chips
    ** STOXX tech index  .SX8P  rises 1.45% and heads for the
fifth straight day of gains, trading at its two-week high
    ** "Nvidia gained 7% in extended trading and lifted semi and
tech peers after giving stellar Q323 outlook and announcing
$25bn buyback," a trader notes
    ** Infineon  IFXGn.DE  and Siltronic  WAFGn.DE  shares rise
1% and 1.5% respectively 
    ** Swiss-based Temenos  TEMN.S , AMS Osram  AMS.S , Meyer
Burger  MBTN.S  and VAT  VACN.S  rise between 1% and 2.6%,
Austria-based AT & S  ATSV.VI  rises 3%
    ** Amsterdam-listed ASML Holding  ASML.AS  and ASM
International  ASMI.AS  rise 2% and 4% respectively, BE
Semiconductor  BESI.AS  up 4%
    ** Milan-listed shares of STMicroelectronics  STMMI.MI  rise
2.4%

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))