European tech, semis stocks up after Trump's remarks on a potential deal with China

Shares in European semiconductor and tech companies rise after U.S. President Donald Trump remarks on a potential trade deal with China for tariffs

Trump expressed optimism that a trade deal with China could "substantially" cut tariffs, suggesting that a final deal will not "be anywhere near" current tariff rates

STOXX Europe technology index .SX8P is up 4%, leading sectoral gains on wider STOXX 600 .STOXX index, which is up 1.7%

"The positive market sentiment seems to stem from Trump's remarks yesterday, where he said, "We're not going to play hardball with China, we're going to be very nice," Abed Jarad from mwb-research says

"It appears that Trump is acknowledging the unsustainable nature of the current tariff situation with China and is beginning to ease his stance," Jarad adds

Germany's Infineon IFXGn.DE, Siltronic WAFGn.DE and Aixtron AIXGn.DE are up between 4% and 6%

Equipment manufacturers ASML ASML.AS and ASMI ASMI.AS are up 3.1% and 5.7%, respectively, as Franco-Italian chipmaker STMicroelectronics STMPA.PA rises 4.8%

French chip materials supplier Soitec SOIT.PA and Swiss sensor maker ams OSRAM AMS.S rise 3.4%-5.2%

BE Semiconductor BESI.AS jumps 10% after posting strong bookings in Q1, as Europe's largest software maker SAP SAPG.DE rises 9.4% on topping analysts' Q1 profit expectations