STOXX up, chipmakers jump, Direct Line surges
STOXX 600 up 0.6%
Tech leads
Direct Line surges on takeover offer
Wall St futures higher
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STOXX UP, CHIPMAKERS JUMP, DIRECT LINE SURGES
Europe's STOXX 600 is trading higher on Thursday, led by a rise in the region's chipmakers, as markets take stock of political developments in France and await key inflation data.
The pan-European benchmark is up 0.6%, with the tech sector .SX8P up 1.7%.
Chipmakers ASML ASML.AS, ASM International ASMI.AS and BE Semi BESI.AS are among the top performers after Bloomberg News reported that U.S. President Biden's China chip curbs could be less severe than previously thought.
Shares in Direct Line DLGD.L, up 40.6%, are gaining most in Europe after the company rejected a 3.28 billion pound takeover offer from rival Aviva AV.L.
But, trading at 223.2p pence, Direct Line shares remain below Aviva's 250-pence-per-share offer, which represented a near 60% premium to yesterday's closing price.
Elsewhere, Europe's banks .SX7P are halting a four-day slide with a 0.9% gain.
French banks have been in the crosshairs of markets on worries that the governing coalition could collapse over its budget, which has seen French bonds underperform within the region.
Here's your opening snapshot:
(Samuel Indyk)
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THURSDAY'S OTHER LIVE MARKETS POSTS:
EUROPE BEFORE THE BELL: FUTURES RISE BEFORE INFLATION POINTERS CLICK HERE
FRENCH BUDGET AND GERMAN PRICES GRAB SPOTLIGHT CLICK HERE
French stocks have underperformed since Macron called election https://reut.rs/4i9dwh1
Chipmakers lead Europe higher https://reut.rs/4eOuA9d
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