Chip equipment makers lead Europe's gains on tariff exemption, Tesla-Samsung deal

Soitec SA

28/07/2025 09:57

** European semiconductor stocks rise after the U.S. and EU agreed on a trade deal that would see semiconductor equipment exempted from tariffs, with additional boost from Tesla-Samsung chip deal

** Dutch chipmaking equipment suppliers ASM International ASMI.AS, ASML ASML.AS and BE Semiconductors rise 4.8%-5.7%; French semiconductor materials supplier Soitec SOIT.PA and chipmaker STMicroelectronics STMPA.PA gain more than 3%

** That drives 1.6% gains on the pan-European tech index .SX8P, with the three Dutch stocks leading gains; they are also top performers of the broader STOXX 600 .STOXX

** "U.S.-EU deal is a clear positive for European semicaps (semiconductor capital equipment), exempting tools from the 15% baseline tariff and easing a key overhang on U.S.-bound sales," Kepler Cheuvreux analyst Ruben Devos says

** Samsung Electronics' 005930.KS $16.5 billion deal to manufacture chips for Tesla TSLA.O through 2033 also provides a "constructive" read-across for Dutch equipment makers, he adds

** "This agreement ... introduces potential upside for European suppliers that have so far been heavily tied to TSMC 2330.TW," Devos says

 (Reporting by Mateusz Rabiega)

 ((Mateusz.rabiega@thomsonreuters.com))