As of 0711 GMT, the pan-European STOXX 600 index had risen by 0.2%, with the technology index leading sectoral gains with a 1.2% increase. European semiconductor stocks such as ASML, Infineon, and ASM saw their shares climb between 1.5% to 2.4% following Nvidia’s announcement of a forecasted quarterly revenue above estimates, a stock split, and a 150% increase in its quarterly dividend on a post-split basis.
In Frankfurt trading, Nvidia’s shares surged by 6.5%. Later in the day, flash business surveys for the euro zone and the UK are anticipated to indicate a slight improvement in May.
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However, defensive sectors like utilities and real estate experienced declines. Notably, Britain’s National Grid plummeted nearly 8% following its announcement of plans to raise around 7 billion pounds ($8.9 billion) through a fully underwritten rights issue.
The UK’s FTSE 100 remained relatively unchanged after Prime Minister Rishi Sunak’s announcement on Wednesday of a general election scheduled for July 4.
Meanwhile, Embracer’s shares declined by 7.2% after the Swedish games developer disclosed that its finance chief would step down due to personal reasons. Additionally, it reported fourth-quarter operating profit in line with market expectations.
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