European stocks enter new quarter with small gains, chipmakers rally

  • 📰 Reuters
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

European stocks kicked off the new quarter with small gains on Thursday, as optimism around a new U.S. government spending plan eclipsed concerns of another COVID-19 wave with France imposing a third national lockdown.

The pan-European STOXX 600 index rose 0.2% in early trading, hovering just 3 points below its all-time high. The benchmark ended the first quarter with a 7.7% rise - its fourth straight quarter of gains.

European chip companies including ASML, ASMI, Infineon Technologies BE Semiconductor all rose between 1.8% and 4.4% after U.S. chipmaker Micron Technology issued an upbeat revenue forecast. Meanwhile, contract chipmaker TSMC said it plans to invest $100 billion over the next three years to increase capacity at its plants.

Wall Street stocks climbed overnight as investors pinned hopes on a strong U.S. economy as President Joe Biden unveiled a sweeping $2.3 trillion spending plan including investments in roads, railways, broadband, clean energy and semiconductor manufacture. French retailers and travel stocks came under pressure after the latest lockdown. Hotels group Accor inched up 0.3%, while catering companies Sodexo and Elior dropped almost 2%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Might wanna divest from Corps in that top 49% FutureProof

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix, Halliburton, CSX, Chipotle: What to Watch When the Stock Market Opens TodayHere’s what we’re watching ahead of Wednesday’s opening bell
Source: WSJ - 🏆 98. / 63 Read more »

Hollywood Stocks End Rollercoaster of a First Quarter With GainsInvestors have 'warmed to some of these names as they increasingly pivoted to direct-to-consumer offerings,' while some stocks have been hit by volatility. retweet
Source: THR - 🏆 411. / 53 Read more »

Small-cap value stocks still look cheap even after big rally, two fund managers sayJustin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investment highlight a handful of stocks that they say are still...
Source: MarketWatch - 🏆 3. / 97 Read more »

Earnings, metal rally spur record high for European stocksEuropean stocks hit a record high on Thursday as a rally in commodity prices lifted miners, while some positive earnings reports offset worries about the pace of COVID-19 vaccination in the continent.
Source: Reuters - 🏆 2. / 97 Read more »