Photo of traders who work at the Frankfurt Stock Exchange
PARIS (Reuters) – The main European stock markets are moving up at the start of the session on Thursday, driven by the technology compartment after Nvidia’s record results and forecasts.
In Paris, the CAC 40 gained 0.95% to 7,315.78 points at 07:25 GMT. In London, the FTSE 100 takes 0.79% and in Frankfurt, the Dax advances by 0.82%.
The EuroStoxx 50 index is up 1.01%, the FTSEurofirst 300 0.91% and the Stoxx 600 0.82%.
The STOXX 600 technology index climbed 1.45% in the wake of Nvidia whose quarterly results and sales forecast exceeded all expectations.
The chip designer, whose stock soared 9% in electronic transactions after the earnings release, is the main beneficiary of the rise of ChatGPT and other generative artificial intelligence (AI) applications, which are virtually all powered by its graphics processors.
In Europe, semiconductor manufacturers are sought after such as ASM International (+2.7%), BE Semiconductor (+2.6%) and STMicroelectronics (+1.76%).
The strongest sectoral increase nevertheless came from real estate (+2.04%), boosted by the fall in bond yields.
In Paris, Air Liquide (+2.1%) is at the top of the CAC 40 after Berenberg’s recommendation was raised to “buy”.
(Written by Blandine Hénault, edited by Kate Entringer)