Techs Lead Europe up

Elena
26 Apr, 2006
Frankfurt

European stock markets traded higher at mid-day, boosted by strength in the tech sector. The leading gainers were chipmakers Infineon Technologies and STMicroelectronics. The German DAX 30 added 0.2%, the French CAC 40 rose 0.3%, and London FTSE 100 climbed 0.4%.

[R]8:15AM European averages traded higher at mid-day.[/R]
European markets posted gains at mid-day, boosted by strength in the tech sector. The leading gainers were chipmakers Infineon Technologies and STMicroelectronics. Infineon Technologies rose 2.3% after it reported narrower Q2 loss to 26 million euros from 114 million euros last year on 24% revenue growth. Automotive shares like Renault and Peugeot also provided support to the market sentiment. The German DAX 30 added 0.2%, the French CAC 40 rose 0.3%, and London FTSE 100 climbed 0.4%.


[R]7:45AM Asia finished in the positive.[/R]
Asian-Pacific benchmarks advanced across the region, lifted by improved global consumption outlook, following a rebound in oil prices and strong U.S. consumer confidence report. The Nikkei crossed the 17,000-key level for the first time in three days to rise 0.5% to 17055.30. The Japanese index was boosted by industrial and consumer-oriented stocks. Tech shares also gained on improved earnings estimates. Nikon jumped 8.5% on news that it would exceed its 2005 profit by 25%. Among other gainers, Canon rose 1.2% and Advantest gained 0.7%. South Korea’s Kospi surged to 1.4%, strongly supported by financial stocks, led by Kookmin Bank, up 2.8%. Australia’s All Ordinaries reached a historic high of 1.1%. Hong Kong’s Hang Seng added 0.6% on strong blue chips. Taiwan Weighted index climbed 0.5% to a five-year peak on blue-chip shares.