Europe shares rise; Intel result boosts tech stocks

* FTSEurofirst 300 index rises 0.3 percent in early trade

* Technology shares among top gainers; Intel results boost

* Energy stocks advance as crude oil prices strengthen

* For up-to-the-minute market news, click on [STXNEWS/EU]

By Atul Prakash

LONDON, April 14 (BestGrowthStock) – European shares bounced back in
early trade on Wednesday, with technology shares advancing after
strong results from Intel (INTC.O: ), the world’s top chip maker,
but banks eased ahead of results from JPMorgan Chase (JPM.N: ).

At 0757 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was up 0.3 percent at 1,101.26 points after
falling 0.3 percent in the previous session.

The index, which has jumped 70 percent since a record low in
March 2009, traded near its 18-month highs of 1,105.08 hit on

Technology shares gained ground, with the STOXX Europe 600
tech index (.SX8P: ) rising 1 percent. Infineon (IFXGn.DE: ), Nokia
(NOK1V.HE: ), STMicroelectronics (STM.PA: ), Logitech (LOGN.VX: ) and
Aixtron (AIXGn.DE: ) climbed 0.8 to 2.8 percent.

Dutch chip equipment maker ASML (ASML.AS: ) gained 1.6 percent
after it said first-quarter orders beat even the most optimistic
expectations. It expressed confidence in a prolonged recovery of
the chip industry.

ASML results came a day after Intel’s sales and margin
forecasts trounced Wall Street expectations, reinforcing hopes
for an acceleration in the tech sector’s recovery.

“Intel smashed market expectations — further evidence of a
strong rebound in technology which has been boosted by capital
expenditure from businesses and product launches at (the) retail
level,” said Henk Potts, equity strategist at Barclays Wealth.

Banks gave up early gains and turned negative as investors
traded cautiously ahead of results from JPMorgan later in the
session. HSBC (HSBA.L: ), Barclays (BARC.L: ), Lloyds (LLOY.L: ), BNP
Paribas (BNPP.PA: ), Societe Generale (SOGN.PA: ) and Commerzbank
(CBKG.DE: ) fell 0.2 to 1.1 percent.

“We have got some big companies reporting over the course of
the next couple of days and that’s rally going to determine
where markets go from here, but so far so good in terms of
reporting season,” Potts said.

Other big U.S. companies to announce results this week
include Google (GOOG.O: ), Bank of America (BAC.N: ) and General
Electric (GE.N: ).


Investor appetite for risky assets such as equities rose,
with the VDAX-NEW volatility index (.V1XI: ) falling 1.9 percent
to two-week lows. The lower the index, which is based on sell
and buy options on Frankfurt’s top-30 stocks (0#.GDAXI: ), the
higher the market’s desire to take risk.

Energy shares rose as crude oil (CLc1: ) climbed to trade
above $84 a barrel, ending a five-session losing streak, with
rising stock markets and a weaker dollar offsetting an industry
report showing gains in U.S. inventories of every fuel category.

BP (BP.L: ), Royal Dutch Shell (RDSa.L: ), BG Group (BG.L: ),
Tullow Oil (TLW.L: ), Repsol (REP.MC: ), Total (TOTF.PA: ) and
StatoilHydro (STL.OL: ) added 0.2 to 1 percent.

Among individual stocks, cash-rich Dutch supermarket group
Ahold NV (AHLN.AS: ) rose 0.7 percent. It is mulling a roll out of
its successful Albert Heijn chain into Belgium as it looks for
ways to bolster its growth, its chief executive said on Tuesday.

Across Europe, Britain’s FTSE 100 index (.FTSE: ), Germany’s
DAX (.GDAXI: ) and France’s CAC 40 (.FCHI: ) were all up 0.4

Stock Market Advice

(Editing by Sharon Lindores)

Europe shares rise; Intel result boosts tech stocks