European shares regained ground on Tuesday led by the tech sector after the Unit...
- European shares regained ground on Tuesday led by the tech sector after the United States temporarily eased restrictions on China’s Huawei.
The news came as a relief to markets and lifted European chipmakers which had tumbled after reports suggested they may have to halt shipments to the Chinese telecoms tech giant. Italy’s biggest phone group Telecom Italia topped the Italian blue chip index after posting first-quarter earnings in-line with expectations and confirming its guidance for the next three years.
UDG Healthcare scaled a more than eight month high to land on top of the STOXX 600, after the company raised its 2019 adjusted profit forecast. Car makers and their suppliers which initially rose about 1% higher reversed course. Daimler shares were marginally higher after German newspaper Handelsblatt reported the company was looking to cut administration costs by 20%.
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