Chip stocks lead European markets higher; ASML up 5% after Foxconn revenue jump
European markets gained ground on Monday, with chip firms leading gains, after a choppy start to the year for stocks.
The regional Stoxx 600 index was 0.28% higher at 9:22 a.m. U.K. time, while sector gains were driven by technology and autos, up 2.9% and 1.8%, respectively.
Dutch chip firms were among the top performers, with ASML up 5.2%, ASM International up 5% and BE Semiconductor Industries up 3.3%. Closely watched chipmaker Taiwan Semiconductor Manufacturing Co. also saw a strong performance in Asia trade, with Taiwan-listed shares rising 4.65% to close at an all-time high.
The gains come after Taiwanese electronics giant Foxconn — which supplies many major tech giants including Apple — on Sunday reported record fourth-quarter revenue, sending shares almost 2% higher Monday.
The Stoxx 600 had a mixed performance last week, though it ended 0.2% higher amid a rocky start to 2025 for stocks around the world. Mixed sentiment could continue this week as traders look for more clues on where the global economy is headed and brace for the return of Donald Trump to the White House.
It’s a relatively quiet day for data and earnings in Europe, but readings on Spanish business activity and German inflation are due.
Overnight, Asia-Pacific markets were mixed on Monday as investors assessed business activity data from China and Hong Kong.
Meanwhile, U.S. equity futures were little changed as investors looked ahead to the December jobs report on Friday; the data will be one of the last key pieces of data before the Federal Reserve’s meeting at the end of the month.
Investors stateside will also watch the Job Openings and Labor Turnover Survey on Tuesday and the December ADP Employment Survey on Wednesday.
The U.S. trading week will be shorter this week. The New York Stock Exchange will be closed on Thursday to mark the death of former President Jimmy Carter.
Source: https://www.cnbc.com/2025/01/06/european-markets-live-updates-stocks-news-data-and-earnings.html