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European stocks inch towards record high as PMIs, chip rally support | Malay Mail

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BERLIN, April 1 — European stocks kicked off the new quarter with gains today, as optimism around a new US government spending plan and strong factory activity data out of the euro zone eclipsed concerns about another lockdown in France. The pan-European STOXX 600 index rose 0.5 per cent,...

Thursday, 01 Apr 2021 05:33 PM MYT

The German DAX climbed 0.6 per cent to hit a record high, while the UK’s FTSE 100 also gained 0.6 per cent. “We remain optimistic on the recovery and believe current vaccine delays in the EU are unlikely to jeopardise the rebound in growth: the supply of vaccines is set to improve significantly in 2Q/3Q,” analysts at Equita wrote in a note.

Also boosting the sector, contract chipmaker TSMC said it plans to invest US$100 billion over the next three years to increase capacity at its plants.

 

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