European stocks rise on STMicroelectronics' AI-driven forecast

Created at 1 Jun · 09:34 UTC5 sources↑ Market-relevant5 events

IN SHORT

European shares opened higher on Tuesday, with the pan-European STOXX 600 index rising 0.7%. Technology stocks led gains, up 2.4%, boosted by STMicroelectronics' strong forecast for its data center business, signaling robust AI demand. Infineon and Schneider Electric also saw gains.

Key Numbers

0.7%STOXX 600 index rise

625.20STOXX 600 index level

0715 GMTtime of index level

2.4%technology sector gain

9.8%STMicroelectronics stock rise

65.1 eurosSTMicroelectronics stock price

September 2000last time STMicroelectronics stock was higher

5.2%Infineon stock rise

2.4%Schneider Electric stock rise

Who's Involved

STMicroelectronics

chipmaker whose forecast lifted tech stocks

Infineon

AI-related stock that gained

Schneider Electric

AI-related stock that gained

Hezbollah

involved in a partial ceasefire announcement

Israel

Key facts

European shares opened higher on Tuesday.

The pan-European STOXX 600 index rose 0.7% to 625.20 points by 0715 GMT.

Technology stocks led sectoral gains with a 2.4% rise.

STMicroelectronics rose 9.8% to 65.1 euros after lifting revenue targets for its data centre business.

Infineon added 5.2% and Schneider Electric added 2.4%.

European markets opened higher on Tuesday, driven by strong performance in the technology sector. STMicroelectronics' optimistic forecasts for its data center business, fueled by the AI boom, significantly boosted its stock and related companies. This positive sentiment in tech, coupled with a partial ceasefire announcement between Hezbollah and Israel, contributed to the overall market rise.

European stocks rise on STMicroelectronics' AI-driven forecast

PiQ Daily

European stocks rise on STMicroelectronics' AI-driven forecast

PiQ Daily

Key facts

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