European stocks rise as tech rally rolls on

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October 14 (Businesshala) – European stocks extended gains on Thursday, boosted by technology and mining stocks, on hopes of a stronger earnings season, even as investors fret over high inflation underpinning an economic recovery. Of.

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The pan-European STOXX 600 index (.STOXX) rose 0.7% to 0710 GMT, with miners (.SXPP) up 2.1% and tech stocks (.SX8P) up 1.4%.

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European semiconductor companies including ASML (ASML.AS), AMS and BE Semiconductor (BESI.AS) were the top gainers after a 13.8% jump in third-quarter profits followed by Taiwanese chip giant TSMC (2330.TW). Was one of demand for semiconductors

A debate over the temporary nature of inflation continued as China’s factory gate inflation hit a record high in September on rising commodity prices. Investors await US manufacturer price data later in the day. The readings also expect a jump in prices.

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French advertising group Publicis (PUBP.PA) grew 2.9% after raising its outlook for 2021 as a global shift towards digital media and E-Start posted its third quarter organic growth above market expectations. helped to do. British rival WPP (WPP.L) rose 0.6%.

Dutch navigation and digital mapping company TomTom (TOM2.AS) warned that supply chain problems in the auto sector could last until the first half of next year.

Reporting by Shruti Shankar in Bengaluru; Editing by Shreeraj Kalluvilla

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