LIVE MARKETS-Tech leads on Nvidia help, telcos down
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TECH LEADS ON NVIDIA HELP, TELCOS DOWN
European shares got off to a higher start on Tuesday, with tech .SX8P stocks taking the lead following news that Nvidia NVDA.O plans to resume AI chip sales to China - a move seen as a positive development in Sino-US trade relations.
ASML ASML.AS, the world's biggest supplier of computer chip-making equipment, gained over 2% following the news and ahead of Wednesday's earnings. Other semiconductor stocks also outperformed, with ASMI ASMI.AS, STMicro STMPA.PA and Infineon IFXGn.DE rising between 1.5 and 2.4%.
Those gains made the STOXX Europe Tech .SX8P the biggest sectoral gainer in the region, up more than 1%. Telcos .SXKP led fallers, even as equipment maker Ericsson ERICb.ST beat profit expectations.
It's a bad day for Barrat Redrow BTRW.L and B&M BMEB.L in the UK after disappointing earnings updates. Their shares were both down around 10%, at the bottom of the STOXX 600 .STOXX.
The region-wide index was last up 0.3%, while the FTSE 100 .FTSE in London was broadly steady, after nudging up to a new peak. Here is your opening snapshot:
(Danilo Masoni)
EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPEAN FUTURES UP, EARNINGS IN FOCUS CLICK HERE
US EARNINGS TO SHED LIGHT ON TARIFF IMPACT CLICK HERE
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