June 21, 2024

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ASML and SAP Lead Surge in Tech Stocks After Blowout Updates

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Tech stocks led the rally in Europe as ASML Holding NV’s strong quarterly orders and SAP SE’s estimate-beating results lifted investors’ sentiment after shaky start to 2024.

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(Bloomberg) — Tech stocks led the rally in Europe as ASML Holding NV’s strong quarterly orders and SAP SE’s estimate-beating results lifted investors’ sentiment after shaky start to 2024.

The tech sector soared nearly 4%, adding roughly €36 billion in market value, as the region’s top two tech companies signaled booming demand for their industries. Chip equipment maker ASML — bellwether for the industry’s health — rose as much as 7.5%, the biggest increase since November 2022. 

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Bloomberg News

2024-01-24 04:26:56

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