Chip Shares Rally as Global Stocks Eek Out Small Gains
By Caitlin Ostroff
Global stocks posted slight gains Tuesday, while the microchip
sector rallied on a brighter earnings outlook.
The Stoxx Europe 600 rose 0.1% and the U.K.'s FTSE 100 edged up
0.2%. German freight-and-logistics group Deutsche Post saw shares
rally 4.8% after the company reported a jump in third-quarter
German chip maker Infineon Technologies shares gained 6.6% after
it reported a rise in fourth-quarter profit despite macroeconomic
uncertainty and weakening global auto demand. Shares in U.K. chip
specialist Dialog Semiconductor and Netherlands-based ASM
International also rose.
Shares of French telecommunication company Iliad surged 17.6%
after it released third-quarter revenue and said it would buy back
up to EUR1.4 billion ($1.54 billion) in shares.
Stocks traded up in Asia, where the Hang Seng rose 0.5% amid
ongoing pro-democracy demonstrations. The Shanghai Composite gained
0.2% and Japan's Nikkei 225 climbed 0.8%.
The yield on the 10-year U.S. Treasury climbed slightly to
1.938% from 1.930% after the long weekend. Bond markets were closed
Monday. Yields rise when prices fall.
In currencies, the British pound fell 0.3% against the U.S.
dollar, paring back some gains made Monday after Nigel Farage's
Brexit Party said it won't contest Conservative-held seats in the
December election, decreasing the likelihood of a hung
Investors will look to President Trump's speech at the Economic
Club of New York later today for clues on progress between the U.S.
and China as well as further guidance on whether the U.S. will
impose tariffs on European auto makers.
Quarterly earnings out today include chemical company Linde PLC,
Tyson Foods, Inc. and CBS Corp.
Write to Caitlin Ostroff at firstname.lastname@example.org
(END) Dow Jones Newswires
November 12, 2019 05:16 ET (10:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
から 7 2020 まで 8 2020
から 8 2019 まで 8 2020