European chip stocks rise on signs of easing US-China trade tensions

Shares of European semiconductor companies rise on signs of a potential de-escalation of Sino-US trade tensions

STOXX Europe Technology index .SX8P is up 1.8%, among the best performers on the wider STOXX 600 .STOXX, which rises 1%

"Signs of renewed dialogue between the U.S. and China have sparked hopes of easing trade tensions, a narrative the market is quick to embrace," Abed Jarad from mwb-research says

"I'd attribute that to a combination of upbeat sentiment and geopolitical relief. The robust earnings from the Magnificent Seven have injected fresh confidence into tech, easing fears of an imminent recession," Jarad adds

Sensor-maker ams OSRAM AMS.S, chip equipment suppliers Siltronic WAFGn.DE and Aixtron AIXGn.DE rise between 4% and 6.7%

Chipmakers STMicroelectronics STMPA.PA and Soitec SOIT.PA rise 2.2% and 3.1%, respectively, while equipment manufacturers ASM International ASMI.AS, ASML ASML.AS and BESI BESI.AS are up 2.3% to 3.8%

Germany's Infineon IFXGn.DE and Nordic Semiconductor NOD.OL are up 1.9% and 5.1%, respectively