Chip stocks propel gains in Europe
European shares gained on Tuesday as Apple suppliers held the lead following reports of strong iPhone sales.
Semiconductor makers jumped into the spotlight with AMS, Dialog, and STMicro posting gains in early trading, pushing the technology sector higher by 1%.
Apple Inc’s Chief Executive Officer Tim Cook told a German daily that sales of the company’s newest iPhones were off to a strong start.
Investors are anxiously waiting for HIS Markit’s Purchasing Managers’ Index (PMI) data from the euro zone, and will pay close attention to Germany as their economy battles a manufacturing recession.