Semiconductors-related shares gain on Intel results, forecast

| April 20, 2011 | 0 Comments
Semiconductors-related shares gain on Intel results, forecast

Shares related to the semiconductors sector were higher Wednesday after US-based chipmaker Intel (NAS: INTC) said that its sales could exceed estimates in the second quarter after it reported first-quarter earnings and revenue that were ahead of expectations.

In Europe, Infineon Technologies (FWB: IFX) added 2.1 percent, while STMicroelectronics (Euronext: STM) was up 4.98 percent and ARM Holdings (LSE: ARM) gained 5.65 percent, while in Japan chip-testing equipment maker Advantest (TYO: 6857) added 3.35 percent, Toshiba (TYO: 6502) was up 3.7 percent and Tokyo Electron (TYO: 8035) gained 4.1 percent, and in early afternoon trade in the United States, Intel was up 6.52 percent on its results and projection.

Equities markets in general were higher globally.

The FTSE 100 added 2.13 percent to 6,022.26 in London, while the FTSE 250 was up 1.57 percent to 11,756.2, with miners up on soaring metals prices as gold traded above $1,500 per troy ounce during the day, the energy sector saw gains on higher oil prices, and retailers, the media sector and banks were mostly higher.

he FTSE Eurofirst 300 was up 1.74 percent to 1,136.55 while the IBEX added 1.53 percent to 10,535.4, the CAC-40 was 2.46 percent higher to 4,004.62 with only three decliners and the Dax gained 2.98 percent to 7,249.19 with no losers.

Markets in the Asia-Pacific region saw gains after the US Commerce Department reported yesterday that new housing starts in the United States were up 7.2 percent in March, raising hopes that the economy there is recovering.

The Nikkei 225 added 1.76 percent to 9.606.82 in Tokyo, while the Topix index was up 1.16 percent to 837.17 and the Mothers market gained 0.7 percent to 443.08, with exporters helped by a weaker yen as carmakers and other exporters were higher along with the gains in chip-related shares.

The Shanghai Composite was up 0.27 percent to 3,007.04, Singapore’s Straits Times Index added 1.29 percent to 3,165.8, markets in Australia were higher as the S&P/ASX200 was up 1.37 percent to 4,859 and the Sydney Ordinaries gained 1.35 percent to 4,940.2, Hong Kong’s Hang Seng was up 1.6 percent to 23,896.1, the Sensex added 1.83 percent to 19,471 in India, Taiwan’s Taiex was 2.02 percent higher to 8,813.28 and the Kospi gained 2.23 percent to 2,169.91 in South Korea.

New York markets were higher under the influence of positive quarterly reports from corporations as the Dow Jones Industrial Average added 1.41 percent to 12,439.7 at nearly 1 p.m. on Wall Street, while the S&P 500 was up 1.27 percent to 1,329.25 and the Nasdaq Composite was 1.88 percent higher to 2,796.67.

Crude oil prices soared on a decline in US stockpiles and more trouble in the Middle East and North Africa, while metals prices were also higher.

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