Texas Instruments encouraging results boost Infineon, STMicro shares
** Shares in European auto chip manufacturers Infineon IFXGn.DE and STMicroelectronics STMPA.PA rise on the back of Texas Instruments' (TI) TXN.O encouraging results
** Infineon rises 3.3% to the top of Germany's blue-chip index .GDAXI, while STMicro is up 2%, second best among France's blue-chips on CAC 40 .FCHI index
** While industrial demand continues to suffer from high inventories, TI results show improving demand from China's automotive market
** Bernstein's Sara Russo explains that while TI's results are not ideal, commentary around Chinese auto resilience is positive for both STMicro and Infineon, while investors are also looking for the bottom of the cycle
** "TI saying it's not getting worse might be good enough to get investors slightly positive", she said
** TD Cowen analysts say earnings give a positive surprise for auto-semis, adding upcoming results from the likes of STMicro and Infineon "could help reset the narrative and provide an updated, longer-term view of the industry"
Reporting by Nathan Vifflin and Ozan Ergenay
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