European stock prices rose slightly this morning, particularly in the technology sector, as investors were encouraged by better-than-expected quarterly business results from American companies Google and AMD.
The FTSEurofirst 300 index of leading European stocks strengthened by 0.2 percent to 1,086 points by 9:30 AM, after weakening by 0.2 percent yesterday. The London FTSE, Paris CAC, and Frankfurt DAX indices were simultaneously up between 0.15 and 0.5 percent. Strong business results from Google and chipmaker Advanced Micro Devices spurred a rise in prices in the European technology sector this morning. Shares of ASML, Infineon, and STMicroelectronics increased by between 0.4 and 0.7 percent.
Thanks to the rise in crude oil futures prices to around $83 per barrel, stock prices in the energy sector also increased. However, trading is cautious as new macroeconomic data is awaited, which will show the state of the American economy, as well as a speech by U.S. Federal Reserve Chairman Ben Bernanke, which could provide hints on what the Fed intends to do to accelerate economic growth. The Nikkei index on the Tokyo Stock Exchange fell by 0.9 percent to 9,500 points this morning. (H)
