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LIVE MARKETS-An AI boost for the STOXX

By Reuters News

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AN AI BOOST FOR THE STOXX

Europe's STOXX 600 .STOXX is getting a decent boost from chip stocks so far on Wednesday after CoreWeave's resultshelped soothe worries about the AI and tech trade overnight.

The STOXX 600 is up 0.6% on the day so far, just shy of a fresh all time high. Semiconductor names including Soitec SOIT.PA and Infineon IFXGn.DE are among the biggest gainers, up 10% and 7% respectively, with a group of European tech stocks up 2% and leading sectoral gains. .SX8P

The majority of sectors are actually higher on the day so far, while the biggest sectoral decliner, food and beverage stocks .SX3P, is down 0.5%. Sentiment looks to have its positive momentum back for now.

In single stock moves, Siemens Energy is up almost 8% after its announced its latest results, as well as plans to expand its share buyback. On the other end of the spectrum, Czech-based ammunition and arms producer CSG CSG.AS tumbled and was last down over 16% after cutting its full-year operating margin forecast, citing lower prices of standard-range ammunition as demand shifts towards longer-range products.

Other major European indices are also in the green, with the DAX .GDAXI up 1.1%, the CAC .FCHI adding 0.8% and FTSE .FTSE up 0.6%.

(Sophie Kiderlin)

EARLIER ON LIVE MARKETS:

BEFORE THE BELL: A GOOD DAY FOR A RECORD HIGH? CLICK HERE

EVERYONE LOVES COREWEAVE CLICK HERE

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