Infineon, STMicroelectronics lead semiconductors sector higher

European equities markets were lower Monday on worries about economic slowdowns as London markets closed for their summer bank holiday.

The FTSE Eurofirst 300 was 0.56 percent lower to 1,169.17 as the Dax was down 0.72 percent to 6,296.95, the CAC-40 fell 1.01 percent to 4,355.87 and the IBEX dropped 1.48 percent to 11,327.1.

Chipmakers lead both the CAC-40 and the Dax as STMicroelectronics (Euronext: STM; NYSE: STM) added 1.13 percent and Infineon (FWB: IFX; NYSE: IFX) gained 1.68 percent.

On the other hand, markets in the Asia-Pacific region were higher on last week’s declines in oil prices.

In Tokyo, the Nikkei 225 added 1.68 percent to 12,878.66 while the Topix index was up 1.88 percent to 1,239.25 and the Mothers market gained 0.98 percent to 446.21.

Elsewhere in the region, India’s Sensex was up 0.34 percent to 14,450.35 while the Shanghai Composite added 0.34 percent to 2,413.37, South Korea’s Kospi index was 0.35 percent higher to 1,502.11 and the Straits Times Index gained 0.37 percent to 2,733.45.

In Australia, the Sydney Ordinaries added 1.59 percent to 5,090.1 and the S&P/ASX200 was 1.69 percent higher to 5,014.9 while Taiwan’s Taiex was up 1.72 percent to 7i,030.72 and the Hang Seng jumped 3.5 percent to 21,104.79 in Hong Kong.

Wall Street saw declines in early afternoon trade on a bank failure in Kansas and on speculation that insurer AIG (NYSE: AIG), with the Dow Jones Industrial Average falling 1.84 percent to 11,414.5 while the Nasdaq Composite had dropped 1.92 percent to 2,368.38 and the S&P 500 was 1.76 percent lower to 1,269.45.

Oil prices were higher, metals prices were lower and grains prices were mixed.

The yen and the Swiss franc both saw gains as investors made fewer currencies purchases funded with those low-yielding currencies.

Discuss this in the Finance Markets forums

Story link: Infineon, STMicroelectronics lead semiconductors sector higher