Tech boosts European shares on Nokia, Infineon results

martes 29 de abril de 2014 06:54 GYT
 

* FTSEurofirst 300 up 0.8 pct, Euro STOXX 50 up 0.9 pct

* Infineon, Nokia lead tech share rally after good results

* Better numbers also boost D. Bank, Statoil

* Ukraine crisis keeps traders on edge

By Francesco Canepa

LONDON, April 29 (Reuters) - European shares rose on Tuesday, led by tech stocks as estimate-topping results from chipmaker Infineon and telecommunication gear maker Nokia brightened the outlook for the sector.

Infineon and Nokia were among the top risers on the pan-European FTSEurofirst 300 index after they reported quarterly earnings boosted respectively by demand from automotive and industrial customers and by software deals.

"Infineon's results reflect healthy conditions in the automotive markets as well as good management execution," said Guenther Hollfelder, an analyst at Baader Bank.

While demand drivers vary between different companies, Nokia and Infineon's strong numbers helped improve sentiment around the sector as a whole, which had been dented by weak updates from ASML, Ericsson and SAP earlier this month.   Continuación...