Shares of chipmakers rise in European bourses on expectation of a Phase One U.S.-China trade deal

On Tuesday, shares of chipmakers in European bourses rose in anticipation for a potential U.S.-China trade deal. Investors will be looking for clues in a key speech from U.S. President Donald Trump.

The pan-European STOXX 600 index edged slightly higher by 0840 GMT, with technology stocks rising by 0.3%.

Investors are keenly awaiting a speech by Trump to the Economic Club of New York later in the day, as they look for any sign of a Phase one trade deal in the ongoing trade war.

Chipmakers took the spotlight, with Infineon Technologies gaining 5.5% despite forecasting slower growth in the year ahead while Dialog Semiconductor’s shares rose by 5.2%.

Shares of Deutsche Post DHL rose by 3.3% after reporting an almost tripling of third-quarter operating profit; it stated it expects a strong fourth quarter.

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