European equities saw a slight increase on Thursday following optimistic projections from Nvidia, a leading player in artificial intelligence, which boosted chipmakers worldwide. Investors were also anticipating the release of the latest business surveys to assess the future trajectory of the euro zone economy and potential changes in interest rates.
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.
READ MORE : Nifty Reaches New Hights As PM Modi Predicts BJP’s Win
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.
ALSO READ : Indian Markets Dismiss Coal Invoicing Allegations Against Adani Group by FT, OCCRP
