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European stocks rise as tech rally rolls on

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Oct 14 (Reuters) – European stocks prolonged beneficial properties on Thursday, boosted by expertise and mining stocks, on expectations of a robust earnings season even as buyers fretted over increased inflation crimping an financial restoration.

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

European semiconductor firms together with ASML (ASML.AS), AMS and BE Semiconductor (BESI.AS) had been among the many prime gainers after Taiwan chip large TSMC (2330.TW) posted a 13.8% leap in third-quarter revenue on the again of booming demand for semiconductors. learn extra

A debate over the transitory nature of inflation continued as China’s manufacturing unit gate inflation rose in September to a document excessive on hovering commodity costs. Investors are awaiting U.S. producer costs information later within the day. The studying can also be anticipated to indicate a surge in costs. learn extra

French promoting group Publicis (PUBP.PA) gained 2.9% after it raised its outlook for 2021 as a world shift in the direction of digital media and e-commence helped its third-quarter natural progress exceed market expectations. British rival WPP (WPP.L) rose 0.6%. learn extra

Dutch navigation and digital mapping firm TomTom (TOM2.AS) fell 7.0% after it warned that provide chain issues within the auto sector may final till the primary half of subsequent 12 months.

Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila

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