Tech boosts European shares on Nokia, Infineon results

martes 29 de abril de 2014 12:29 GYT
 

* FTSEurofirst 300 up 1.2 pct, Euro STOXX 50 up 1.4 pct

* Infineon, Nokia lead tech share rally after good results

* Earnings also boost Deutsche Bank, Statoil (Updates with closing prices and no other changes to text)

By Alistair Smout

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

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

The STOXX Europe 600 Tech index was up 1.4 percent, a top sectoral riser.

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

Exposure to industrial demand helped Infineon in comparison to the likes of SAP, said Frederique Carrier, director of European Equities at RBC Wealth Management, who warned against over-optimism based on a handful of company results.   Continuación...