LIVE MARKETS-Do you want chips with that?
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DO YOU WANT CHIPS WITH THAT?
Europe joined in a global rally in semiconductor stocks in the first hour of Monday trading on the back of a Friday announcement from Microsoft that it is planning to invest about $80 billion in AI this year.
Chip companies like Aixtron AIXGn.DE and Infineon IFXGn.DE are at the top of the STOXX 600, up around 6%, and giant ASML ASML.AS is 4.6% higher.
That's sent the STOXX tech index .SX8P up 2.7%, set for its biggest one-day gain since November, and kept the broad STOXX 600 benchmark above water, it's 0.26% higher.
Microsoft MSFT.O said it is planning to invest about $80 billion in on developing datacentres to train artificial intelligence models and deploy AI and cloud-based applications, news that boosted U.S. stocks on Friday and Korean tech shares earlier on Monday. .N .KS
There are a few other bits and bobs in the market today. Rolls Royce RR.L is the biggest faller in the STOXX, down 4% after Citi downgraded the stock to neutral from buy, saying the shares were approaching what they considered to be fair value.
German regional inflation is also starting to come in as well, shaping the macro picture.
(Alun John)
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FOR EARLIER LIVE MARKETS POSTS
EUROPE BEFORE THE BELL: FUTURES UP ON FIRST 'PROPER' DAY BACK
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