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Reuters: European shares rise at open as chipmakers rally; Ubisoft shines

Reuters
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Reuters
Published Aug 22, 2023

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European shares opened higher on Tuesday, with technology stocks leading gains as chipmakers caught up to an overnight Wall Street rally ahead of Nvidia's earnings, while shares of Ubisoft gained.

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The technology sector added 1.3% as chip stocks rallied on optimism surrounding the world's most valuable chipmaker Nvidia ahead of its quarterly results on Wednesday.

Shares of Amsterdam-listed chipmakers ASML Holding N.V. , ASM International N.V and BE Semiconductor Industries N.V. gained between 1.4% and 2.0%.

Ubisoft Entertainment advanced 6.3% after Microsoft said that its acquisition target Activision would sell its non-European streaming rights to the French video game producer.

European miners added 1.1%, tracking higher metal prices.

Prysmian rose 3.9% after the Italian cable maker was selected as 'preferred bidder' for 3 projects in Germany worth EUR 4.5 billion. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Varun H K)

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