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European Shares Subdued Amid Middle East Caution; Tech Shares Rally

RTTNews | 74 days ago

European Shares Subdued Amid Middle East Caution; Tech Shares Rally

(RTTNews) - European stocks were subdued on Monday, even as technology shares gained after South Korea announced a $576 billion semiconductor and AI investment plan, backed by Samsung and SK Hynix, to strengthen its global chip leadership.

The pan European Stoxx 600 was marginally lower at 635.36 after falling 0.7 percent on Friday.

The German DAX was marginally higher, while France's CAC 40 dropped 0.4 percent and the U.K.'s FTSE 100 slipped 0.2 percent as crude oil prices rose slightly on renewed U.S.-Iran tensions ahead of upcoming peace talks in Qatar.

Technology stocks rallied, with ASML Holding, Infineon and STMicroelectronics climbing 1-3 percent.

Nordex Group shares rose about 1 percent after the German wind turbine maker secured a 325-MW order in the United States.

Dutch digital services operator Prosus N.V. rallied 2.4 percent after it reported an 84 percent jump in full-year adjusted core profit.

French biotech Ipsen advanced 1.7 percent after it agreed to acquire U.S. biotech Kartos Therapeutics in a deal worth up to $1.75bn.

British telecom giant BT Group rose about 1 percent after it signed an agreement to combine its international business in a new joint venture with U.S. mobile operator Verizon.

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