12/04 03:19
European Stocks Rise as Chip Shares Gain; DaimlerChrysler Falls
By Alistair Barr
quote.bloomberg.com
London, Dec. 4 (Bloomberg) -- European stocks rose as semiconductor companies climbed on optimism industry mergers will help reduce capacity and support a rebound in chip prices. Infineon Technologies AG paced the gains.
DaimlerChrysler AG slipped after the German carmaker's U.S. sales lagged rivals last month. Michelin & Cie. declined after Bridgestone Corp., Asia's biggest tiremaker, cut its profit forecast by 28 percent.
The Dow Jones Stoxx 50 index rose 19.38 points, or 0.6 percent, to 3575.21. The U.S. Standard & Poor's 500 index fell 0.8 percent yesterday, while Japan's Nikkei 225 stock average advanced 0.8 percent.
Infineon, Europe's No. 2 chipmaker, climbed 61 cents, or 2.7 percent, to 23 euros. STMicroelectronics SA, Europe's largest, gained 36 cents, or 1 percent, to 37.60 euros. |
