LIVE MARKETS-Half-time in Europe: swish and chips
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HALF-TIME IN EUROPE: SWISH AND CHIPS
With the mood turning a bit more positive, retail and luxury stocks are picking up. Shares in LVMH LVMH.PA are up 3.3% on the day and one of the most positive influences on the broader STOXX, behind German software company SAP SAPG.DE, which is up 4.4%, and Swiss pharma group Roche ROG.S, which is up 2.5%. LVMH rivals Kering PRTP.PA, Hermes HRMS.PA and Christian Dior DIOR.PA are up between 2.5% and 3.5%.
On the downside are the tech stocks, which have been under pressure all day after Broadcom AVGO.O, one of the world's most valuable companies, missed Wall Street expectations for second-quarter revenue estimates, which has sent shares in the mega-cap chipmaker down 12% in premarket trading. ASML ASML.AS is down 2.7%, Infineon IFXGn.DE is down nearly 6% and France's Soitec SOIT.PA is down nearly 9%.
On a country-by-country basis, France's CAC 40 .FCHI is the top-performing index of the day, up nearly 1% - thanks in part to gains in its heavyweight luxury sector - while Copenhagen's OMX is up 0.8% .OMXC20 and Zurich's blue-chip index .SSMI is up 0.6%. On the downside, Helsinki stocks .OMXHPI are the biggest laggards, with the main index down 2.3% thanks to a 10% drop in AI-beneficiary Nokia NOKIA.HE.
(Amanda Cooper)
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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS
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A CEASEFIRE TOO FAR FOR MARKETS CLICK HERE