ASML.MI - ASML Holding N.V.

Milan - Milan Delayed price. Currency in EUR
256.35
+5.35 (+2.13%)
At close: 5:17PM CEST
Stock chart is not supported by your current browser
Previous close251.00
Open255.30
Bid256.75 x 0
Ask0.00 x 0
Day's range255.30 - 256.35
52-week range166.34 - 293.65
Volume21
Avg. volume96
Market cap109.574B
Beta (5Y monthly)0.89
PE ratio (TTM)41.68
EPS (TTM)6.15
Earnings dateN/A
Forward dividend & yield4.50 (1.79%)
Ex-dividend date24 Apr 2020
1y target estN/A
  • European Stocks Extend Last Week’s Rally Led By Pharma Shares
    Bloomberg

    European Stocks Extend Last Week’s Rally Led By Pharma Shares

    (Bloomberg) -- European equities surged on Monday as investors digested the latest news on the coronavirus and measures to fight it.The Stoxx Europe 600 was up 1.3% by the close in London, led by gains in the pharma, oil, technology and chemical sectors. The benchmark index posted its best week since 2011 last week. This is also the first Monday since early March that the Stoxx 600 has advanced.After five weeks of declines, European stocks rallied last week as countries around the world unveiled a raft of support measures to limit the fallout from the pandemic and help economic growth. Sentiment was also helped today by gains in U.S. equities on the optimism that major health-care companies are making progress in delivering faster virus testing and pushing ahead with developing a vaccine.“Governments and central banks are going all-in and there should be no doubt about their ability and willingness to ensure that this recession will be as short as possible,” said Stephen Jen, chief executive officer of Eurizon Slj Capital. “I think equities and risk assets may have already bottomed, and risks are biased to the upside from here. Investors should not bet against the central banks and the fiscal authorities.”Roche Holding AG and Novartis AG were among the biggest advancers in Europe today. Roche Chief Executive Officer Severin Schwan hopes to have secured data in a month on whether its drug Actemra helps fight coronavirus or not, Aargauer Zeitung reported. The U.S. Health and Human Services Department accepted 30 million doses of hydroxychloroquine, which has yielded promising yet inconclusive results in a small coronavirus trial, from Novartis AG’s Sandoz unit.ASML Holding NV gained 6.6% today even as it cut its revenue outlook for the first quarter and halted share buyback plans after complications from the novel coronavirus caused supply-chain problems and shipment delays. A Bloomberg Intelligence analyst Masahiro Wakasugi said the company can maintain a high gross margin even as the Covid-19 outbreak impacts sales, due to its low fixed costs.A gauge for the banking sector was down 3.1%, by far the worst performing subgroup today. European lenders including UniCredit SpA, ABN Amro Bank NV and ING Groep NV suspended dividend payments on 2019 earnings after the European Central Bank pushed banks to hold off on distributions until at least October to improve their financial strength amid the coronavirus turmoil.Shares in travel & leisure companies dropped again on Monday, with EasyJet falling 7.2% after it grounded its entire fleet having completed customer-repatriation flights, and said it’s in talks to build a cash cushion to see it through the gap in business caused by the coronavirus.The U.K.’s FTSE 250 Index underperformed, down 1% amid fresh worries over the domestic economy after Deputy Chief Medical Officer for England Jenny Harries warned that lockdown measures may need to be in place for months.“We remain cautious despite large stimulus announcements and maintain a slight underweight allocation,” said Esty Dwek, head of global market strategy at Natixis Investment Managers. “Valuations have come down sharply since the outbreak, suggesting much more attractive entry points for the longer term, but it may still be too early to add a lot of risk to portfolios.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Shielded from Pandemic, Work Continues in World’s Cleanest Room

    (Bloomberg) -- A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside.And as the coronavirus grips the world, it might just be the safest place to work right now.The teams belong to ASML Holding NV, which holds a de-facto monopoly on the industry of extreme ultraviolet lithography machines needed to make next-generation chips. Each cost about 150 million euros ($160 million) apiece and ship mainly to the U.S., Korea and Taiwan, where the likes of Intel Corp., Samsung Electronics Co. or Taiwan Semiconductor Manufacturing Co., known as TSMC, rely on them to make faster, cheaper and more energy efficient semiconductors.ASML manufacturing staff operate in an environment that is literally shielded from the coronavirus pandemic that has forced millions of workers around the world to isolate themselves from colleagues to slow the spread of the disease. As the rest of the Netherlands and much of the continent locks down, work in ASML’s Veldhoven clean-rooms has continued largely unhindered, potentially giving the company an edge for when corporate life returns to normal.“So far we have been able to keep our production going,” said Frits van Hout, ASML’s chief strategy officer, ASML. “The situation is of course dynamic. We encounter challenges as with every lockdown our suppliers will be affected, directly or indirectly.”Keeping DistanceLike other companies, ASML has also implemented a raft of contingency measures –from segmenting staff to drawing up plans if disaster strikes at a key supplier -- so it can keep manufacturing equipment for chip-makers around the world. Workers are split into two teams and are screened for virus symptoms via infrared thermal cameras at the entrance of the clean room in Veldhoven.Social distancing protocols are in effect, and the company has spaced out the morning and night shift to ensure the groups don’t meet, ASML said.Clean rooms are highly specialized infrastructure that’s costly to set up and maintain, making that kind of environment difficult to replicate in other industries. The biggest risk for the company lies not so much in its own operations seizing up but in a potential breakdown of its 5,000 suppliers, 790 of which provide materials and equipment that are used directly to produce the ASML systems.Besides its ultra-sanitized work environment, ASML has the benefit of making machines that are considered almost recession-proof, given its commanding lead in an industry on the cusp of another technological leap: high-speed 5G networks.On Track“Most customers want EUV and if ASML cannot deliver due to such a factor, then they know they have to wait until the next quarter because you cannot get it anywhere else,” said Marcel Achterberg, executive director of equity research at KBC Bank.The prized EUV machines are the size of a bus. Customers can order older equipment, but EUV delivers better resolution, smaller components and improved performance in the chips it produces.They’re a crucial source of revenue for ASML’s customers, too. By the end of next year, as much as half of TSMC’s revenue will depend at least partly on some EUV processes, according to Bloomberg Intelligence analyst Masahiro Wakasugi.Volume production of TSMC’s most cutting-edge 5-nanometer chips, which use EUV, is still “on track” for the first half of 2020 as previously stated by management, TSMC spokeswoman Nina Kao saidFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    Hedge fund Bridgewater places $15 bln in bets against Europe and UK

    Hedge fund behemoth Bridgewater has shown its hand in Europe with roughly $15 billion in bets against companies on the continent and in Great Britain, filings reviewed by Reuters show. The world's biggest hedge fund manager's short positions amount to more than $5.3 billion in France and $4.7 billion in Germany, while in Spain its shorts add up to almost $1.4 billion and $821 million in three Italian companies. Hedge funds engage in the practice of 'shorting' by borrowing a stock from an institutional investor, such as a pension plan, and selling it back at a profit when the price drops.

  • Bridgewater Makes $14 Billion Short Against European Stocks
    Bloomberg

    Bridgewater Makes $14 Billion Short Against European Stocks

    (Bloomberg) -- Bridgewater Associates, the world’s biggest hedge fund, has built up a $14 billion bet that shares in European companies will continue to sink amid the worsening coronavirus outbreak.The investment firm led by billionaire Ray Dalio made a string of wagers against stocks in countries from Germany to Italy, according to filings between March 9 and 12 compiled by Bloomberg. They include a $1 billion bet against software company SAP SE and a $715 million wager against semiconductor equipment maker ASML Holding NV.The wager hasn’t been enough to protect the firm’s main hedge fund from steep losses. Bridgewater’s Pure Alpha Fund II tumbled roughly 13% this month through March 12, worsening the decline this year to about 20% as the fund found itself on the wrong side of the market rout.Bridgewater’s Shorts by CountryThe value of Bridgewater’s short positions in Europe has been rising this month amid sell-offs sparked by fears that the spread of coronavirus will tip the global economy into a recession. Stocks have tumbled worldwide with the Euro STOXX 50 index slumping by more than a third this year.It’s not clear whether the bet is an outright wager on a fall in shares or part of a broader hedging strategy of the firm that manages about $160 billion. The money manager built a similar wager against European companies in 2018. Short sellers sell borrowed securities to buy them back at lower prices and pocket the difference as profit.“Though we won’t comment on our specific positions, Bridgewater trades in more than 150 markets around the world and as such has many interrelated positions, often to hedge other positions, and these change often,” said a spokesperson for Bridgewater. “So, it would be incorrect to look at any one position at any one time to try to determine an overall strategy.”On Monday, Dalio said in a LinkedIn post that the Federal Reserve’s decision to cut rates to almost zero puts the markets in an even more precarious position.“Long-term interest rates hitting the hard 0% floor means that virtually all asset classes go down because the positive effects of interest rates falling won’t exist (at least not much),” said Dalio. “Hitting this 0% floor also means that virtually all the reserve country central banks’ interest rate stimulation tools (including cutting them and yield curve guidance) won’t work.”(Adds chart of firm’s short bets by country.)To contact the reporter on this story: Nishant Kumar in London at nkumar173@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Alan Mirabella, Josh FriedmanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Want To Invest In ASML Holding N.V. (AMS:ASML)? Here's How It Performed Lately
    Simply Wall St.

    Want To Invest In ASML Holding N.V. (AMS:ASML)? Here's How It Performed Lately

    Improvement in profitability and outperformance against the industry can be important characteristics in a stock for...

  • Infineon Deal Scrutiny Raises Trade Threat to Europe Tech Firms
    Bloomberg

    Infineon Deal Scrutiny Raises Trade Threat to Europe Tech Firms

    (Bloomberg) -- U.S. officials are dragging Europe’s technology industry more deeply into a trade war with China, threatening the region’s ability to create its own semiconductor giants.The Committee on Foreign Investment is urging President Trump to block Infineon Technologies AG’s $8.7 billion acquisition of Cypress Semiconductor Corp., claiming it poses a risk to national security, Bloomberg News first reported Thursday. Although it wasn’t clear what spooked Cfius, both Infineon and Cypress have Chinese customers including Huawei Technologies Co. Cfius is sensitive about deals allowing Chinese buyers to get their hands on advanced American technology.QuickTake: All About CFIUS, Trump’s Watchdog on China DealmakingEurope’s tech firms have tried to stay neutral in the power struggle. Semiconductor makers said earlier this year that they’d keep supplying Huawei after after a Trump’s administration order in May demanding U.S.-based companies stop. At the time a spokesman for Infineon said the majority of products it delivers to Huawei were not subject to U.S. restrictions.In recent months European lawmakers have pushed back against Trump’s calls to cut Huawei out of European telecom infrastructure. The U.K., France, and Germany are all looking to keep the door open to the Chinese telecom giant in some way, nubbing the U.S. view that Huawei could be a security risk. Italy, Croatia, Hungary and Switzerland have signed partnerships with Huawei.Huawei is Infineon’s sixth-largest customer accounting for about 2.4% of sales, according to supply chain data compiled by Bloomberg. Other Chinese buyers of Infineon products include iPhone-assembler Hon Hai Precision Industry Co. and Tencent Holdings Ltd.“Obviously national security considerations are very important,” said Keily Blair, Partner at law firm Orrick. “It would be good to see an evidence-based approach in the U.S., similar to what we have seen in the U.K. with Huawei.”In 2017, Cfius blocked Infineon’s proposed deal for Wolfspeed, a semiconductor unit of U.S.-based Cree Inc. Aixtron SE’s planned sale to a Chinese-backed company collapsed in 2016 after U.S. opposition. Trump has also blocked Broadcom Inc.’s hostile takeover of Qualcomm Inc.“We have always been less sure about the regulatory approvals than Infineon management,” said Citigroup Inc. analyst Amit Harchandani, “given the number of recent cross-border deals failing to clear the regulatory hurdle.”The U.S. is also trying to dictate who European firms do business with. Dutch chip gear-maker ASML Holding NV has had difficulty renewing an export license to China following U.S. political pressure. The company wants to sell equipment to China that would help the company produce its own next-generation chips and help it wean itself off foreign imports.In January, U.S. ambassador to the Netherlands Pete Hoekstra told Dutch newspaper Het Financieele Dagblad that ASML’s technology “doesn’t belong in certain places,” suggesting China. The Chinese ambassador, Xu Hong, had warned days earlier in the same paper that the relationship between the Netherlands and China was at risk if the government blocks EUV machine exports.Other European tech deals are now in focus. British chip designer Dialog Semiconductor is another key figure in the European tech supply chain with Chinese customers and American acquisition targets. In February, it said it’d agreed to buy Santa Clara, California-based Adesto Technologies Corp. for about $380 million.Dialog’s biggest customer is Apple Inc., but Huawei is its third-largest with an exposure of about 2.1%. Dialog CEO Jalal Bagherli declined to comment when contacted by Bloomberg on Friday.Although Cypress’s share price has collapsed following the report that Cfius is interested in the deal, some analysts believe all is not lost. “We believe mitigation conditions might still be an option and it would be premature to assume the deal is off,” said Citi’s Harchandani.“We believe worst-case we have a delay until the closing,” Vijay Rakesh, analyst at Mizuho Sescurites, said. A “potential delay or divestiture would be par for the course, but we see deal as mostly consummated.”\--With assistance from Nate Lanxon.To contact the reporters on this story: Giles Turner in London at gturner35@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Nate Lanxon, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: Super Tuesday before Super Tuesday

    * Fed cuts rates * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street makes timid gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. CLOSING SNAPSHOT: SUPER TUESDAY BEFORE SUPER TUESDAY (1655 GMT) European bourses closed in positive territory after both the G7 and the Fed made their moves today in a bid to bolster sentiment, as investors try to understand the impact of the coronavirus outbreak on the economy.

  • Reuters - UK Focus

    LIVE MARKETS-Italy's bad data, wait... it is worse

    * Fed cuts rates * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street makes timid gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. ITALY'S BAD DATA, WAIT... IT IS WORSE (1609 GMT) Italy's PMI data showed a contraction in February but things are likely already much worse as the data was collected until Feb 21, meaning it excludes the impact of the outbreak of the coronavirus in the country in the last week of the month.

  • Reuters - UK Focus

    LIVE MARKETS-Fed rate cut: Boy did that de-escalate quickly!

    * Fed cuts rates * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street makes timid gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. Seems both the G7 and the Fed didn't quite have in store what was required to bolster sentiment.

  • Reuters - UK Focus

    LIVE MARKETS-Waiting for another 2008? Here are some shorts in the meantime

    * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street futures point to flat to slightly lower open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. HERE ARE SOME SHORTS IN THE MEANTIME(1447 GMT) What this week's rebound shows for sure is that even if covid-19 triggered a weekly sell-off worthy of the 2008 financial crisis, most investors believe we're actually not quite there yet.

  • Reuters - UK Focus

    LIVE MARKETS-Fight cancellations, how bad can it get?

    * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street futures point to flat to slightly lower open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. FIGHT CANCELLATIONS, HOW BAD CAN IT GET?(1321 GMT) With demand for flights taking a huge hit, European airlines are in the centre of the coronavirus whirlwind.

  • Reuters - UK Focus

    LIVE MARKETS-ESG: too much emphasis on "E"?

    * European stocks stage bounce back, rise 2.8% * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street futures point 1% rise after 5% jump on Monday Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. Credit Suisse's analysis shows the top holdings in Europe, at least the top 15, are not utilities or renewable energy producers.

  • Is ASML Holding N.V.'s (AMS:ASML) 21% ROE Better Than Average?
    Simply Wall St.

    Is ASML Holding N.V.'s (AMS:ASML) 21% ROE Better Than Average?

    One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...

  • Reuters - UK Focus

    LIVE MARKETS-Italian banking M&A is getting real!

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. It looks Italian banking M&A is finally happening after the country's top lender Intesa Sanpaolo launched a surprise 4.9 billion euro bid for rival UBI Banca.

  • Tech Investors Jolted by Apple Pin Hopes on a Fast Turnaround
    Bloomberg

    Tech Investors Jolted by Apple Pin Hopes on a Fast Turnaround

    (Bloomberg) -- Tech stock futures fell as traders worked to price in the impact of a revenue shortfall at a company responsible for more than a tenth of the S&P 500’s gain over the last year.While Apple Inc. described the impact of the coronavirus on its sales as “temporary,” slips among big tech companies sit uneasily with investors who have watched many stocks soar 50% or more over the past 12 months. The iPhone maker has a 12% weighting in the Nasdaq 100 Index, which closed last week at 29.4 times annual earnings, the highest in a decade.“This will be an important test,” said Jason Browne, president of Alexis Investment Partners. “Obviously, Apple is a huge weight in major indexes, and one of the most loved companies by investors. That may help as it has generally been better to buy Apple on setbacks than to sell, especially if the market expects the disruption to be temporary.”March contracts on the S&P 500 fell 0.4% as of 8:06 a.m. in London. Futures on the Nasdaq 100 lost 0.9%. Exchange trading of individual U.S. shares has been closed since Friday for the Presidents’ Day holiday. Both the tech-heavy Nasdaq and Apple itself are already up more than 10% in 2020, after an 86% rally in Apple last year pushed the gauge to its best performance since 2009.In a Monday release, Apple said it doesn’t expect to meet its revenue guidance for the March quarter due to work slowdowns and lower demand caused by the outbreak of novel coronavirus in China. The company had forecast revenue of $63 billion to $67 billion for the fiscal second quarter ending in March. Analysts on average estimated $65.23 billion.Equity traders face a difficult task in determining how much of the weakness is specific to Apple and whether to project the shortfall on the broader market. The company has always been likely to fare worse, given how much of its supply chain and consumer market are in China. At the same time, the sales warning is one of the most tangible examples of impact on a U.S. company and Apple’s size makes it capable of swaying indexes by itself.“My gut says I think the market probably expects this to some extent, and we know this market tends to look through things pretty well,” said Nathan Thooft, Manulife Asset Management’s head of global asset allocation. “People had anticipation that some of these companies would be affected by what was going on there and they certainly knew there were closures and supply chain issues.”While no rally is straight up, the one that has swollen Apple’s market value by as much as $545 billion since early August comes close, with only three down weeks in 21. The iPhone maker received 18% of its revenue from China in fiscal year 2019, data compiled by Bloomberg show, enough to keep analysts worried about the longer-term consequences of the outbreak.Apple’s news will have ramifications for a long list of semiconductors and other suppliers around the world. Its announcement came hours after Dow Jones reported that President Trump’s administration is considering new trade restrictions that would limit the use of U.S. equipment to produce chips for China’s Huawei Technologies Co.European equities opened lower on Tuesday, led by technology shares as the Stoxx 600 Technology Index fell as much as 1.6%. Semiconductor stocks tumbled, with ASML Holding NV falling 2.3%, STMicroelectronics NV dropping 2.6% and Infineon Technologies AG retreating 2.3%.“Of all the big companies exposed to China, this announcement seemed the most inevitable,” Michael Antonelli, managing director and market strategist at Robert W. Baird & Co, said by email. “What will this do to the market? It will remind investors that the risks surrounding the coronavirus are still unknown and unquantifiable. There will likely be an increase in volatility this week.”Apple’s most famous profit warning came in November 2018 amid the U.S. stock market’s worst stretch since the financial crisis. Its shares tumbled 7.1% on Nov. 2, 2018, after Apple reported stagnant iPhone sales and forecast revenue for the holiday quarter that fell short of Wall Street expectations at the midpoint. The Nasdaq 100 lost 1.5% that day.“We’ve been getting nothing but headlines about the virus for weeks. Starbucks is closing its stores, Caterpillar is shutting its facilities. Company after company has been saying this,” Jim Paulsen, chief investment strategist at Leuthold Group, said by phone. “We have been expecting bad sales headlines, this isn’t good, but it’s not surprising.”To contact the reporters on this story: Sarah Ponczek in New York at sponczek2@bloomberg.net;Elena Popina in New York at epopina@bloomberg.net;Catherine Larkin in Chicago at clarkin4@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Chris NagiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • We Think ASML Holding (AMS:ASML) Can Stay On Top Of Its Debt
    Simply Wall St.

    We Think ASML Holding (AMS:ASML) Can Stay On Top Of Its Debt

    David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

  • Reuters - UK Focus

    US STOCKS-Tech sector pushes the S&P 500 to slight gain

    Technology shares led the S&P 500 marginally higher on Wednesday, as a healthy forecast from IBM helped mitigate worries over the developing coronavirus outbreak. The S&P 500 and the Nasdaq closed barely in the black after approaching, then backing down from record highs the day after virus fears prompted a sell-off. The Dow closed nominally lower.

  • Reuters - UK Focus

    US STOCKS-S&P 500, Nasdaq on track for record closing highs

    Tech shares led all three major U.S. stock averages into the black, with the S&P 500 and the Nasdaq setting a course to notch new record closing highs, the day after virus fears prompted a sell-off. Streaming pioneer Neftlix Inc acknowledged stiffer competition in the United States, where quarterly growth fell short of analyst estimates.

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: Change of heart

    * European shares little changed * DAX flat after hitting new record peak * Worries over spreading Coronavirus ease * Italian banks fall on fresh political uncertainty * S&P 500, Nasdaq aim for record on IBM earnings Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni.

  • Reuters - UK Focus

    LIVE MARKETS-Autos decoupling from DAX: a trade war put option?

    * European shares little changed * DAX flat after hitting new record peak * Worries over spreading Coronavirus ease * Italian banks fall on fresh political uncertainty * S&P 500, Nasdaq aim for record on IBM earnings Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Barclays anticipates better days ahead for earnings in 2020 rather than the actual Q4 numbers and overall, it says you shouldn't expect much of a boost in share prices from the results as the U-shaped recovery has been largely priced in.

  • Reuters - UK Focus

    LIVE MARKETS-Ponzi Market?

    * European shares little changed * DAX flat after hitting new record peak * Worries over spreading Coronavirus ease * Italian banks fall on fresh political uncertainty * S&P 500, Nasdaq aim for record on IBM earnings Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net PONZI MARKET? In a note titled, "Global Central Banks Fuelling a Ponzi Market a Ponzi Market", Guggenheim Investments CIO Scott Minerd says the only reason investors keep adding to risk is the fear that prices will be higher tomorrow.

  • Reuters - UK Focus

    LIVE MARKETS-Trade truce: much ado about nothing

    * European shares little changed after higher open higher * DAX flat after hitting new record peak * Worries over spreading Coronavirus ease * Italian banks fall on fresh political uncertainty * S&P 500, Nasdaq aim for record on IBM earnings Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net TRADE TRUCE: MUCH ADO ABOUT NOTHING (1429 GMT) How would you react if you were told that the trade truce between U.S. and China would at best boost global trade for this year by just $20 billion (that's much lesser than how much Apple grew its revenue last year)?

  • Bloomberg

    ASML Chief Dismisses U.S., China Tensions as a Headache

    (Bloomberg) -- ASML Holding NV’s top executive brushed off concerns about tensions between the U.S. and China, a market that’s growing in importance to the Dutch chip gear-maker.“Someone needs to make those chips and to make those chips you would need EUV, and there is basically only one place where they can get it,” Chief Executive Officer Peter Wennink said in an interview with Bloomberg Radio, referring to its advanced lithography equipment. “For our total business it doesn’t really matter.“ASML, which has a monopoly on advanced lithography equipment needed to make next-generation chips, is already a crucial supplier to Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co. but hopes to drive deeper into China. Beijing wants to build a world-class homegrown chip industry to wean itself off foreign imports -- an effort that would need ASML’s one-of-a-kind machines. Yet it’s faced difficulty getting the Dutch government to renew a license to export to China amid ongoing trade tensions.ASML shares rose 0.2% at 1:14 p.m. in Amsterdam trading.“It’s up to the Dutch government to determine whether there is a national security risk and of course there are views in the U.S. and China whether that’s a risk,” Wennink said, adding that the company has responded to requests for information from the Dutch government.Asked whether he was optimistic about obtaining the license, Wennink said “the Dutch government takes very due care when it concerns the facts and the circumstances.”Read more: China Stockpiles U.S. Chips as ‘Silicon Curtain’ DescendsChina relies on imported chip manufacturing equipment for its audacious ambition of creating a self-reliant semiconductor industry, which supplies key components for a wide spectrum of electronics from smartphones to satellites. ASML is an essential link in that plan, which will drive Chinese purchases of more than $30 billion of semiconductor equipment between 2020 and 2021, according to industry organization SEMI. China’s Ministry of Foreign Affairs said in a statement last week the Netherlands should make an objective decision on ASML’s exports based on its own interests.U.S. PressureEuropean businesses have been caught in the middle of trade tensions between the U.S. and China, even as Washington and Beijing last week sealed the first phase of a trade deal. But the U.S. still maintains tariffs on roughly two-thirds of imports from China and both sides still need to negotiate the pact’s second phase, with discussions expected to be difficult.U.S. officials have urged allies to scrutinize business ties with Beijing, invoking concerns around national security and espionage. The White House, concerned about China’s ambitions to dominate a swath of technology from AI to semiconductors, has sought ways to contain the country’s rise. China, meanwhile, has threatened European countries with retaliation on trade if its companies are shunned.European telecom operators are among those squeezed between the two major world powers after Washington called on European governments to exclude Huawei Technologies Co.’s equipment from the build-out of their 5G networks.The Dutch government has held back on renewing the license ASML needs to export its extreme ultraviolet lithography machines under pressure from U.S. officials, Reuters reported this month. That equipment is key to any chipmaker that wants to fabricate next-generation chips, say of 7 nanometer or lower nodes.Last week, U.S. ambassador to the Netherlands Pete Hoekstra told Dutch newspaper Het Financieele Dagblad that ASML’s technology “doesn’t belong in certain places,” suggesting China. The Chinese ambassador, Xu Hong, had warned days earlier in the same paper that the relationship between the Netherlands and China was at risk if the government blocks EUV machine exports.For its part, the Netherlands says it will take its own decision on the matter, independent of foreign influence. “They are free to express their view and we take note of that, but it is not decisive,” Dutch Prime Minister Mark Rutte said of the U.S. and Chinese ambassadors’ comments last week.ASML’s EUV technology has both civilian and military applications and therefore is subject to EU dual-use licensing obligations under the Wassenaar Arrangement, according to the Dutch Foreign Ministry.EUV LicenseWennink said at a press conference the Dutch government had asked the company questions about the EUV technology, how it works, and who the customer is. The level of detail the government is seeking “is probably more than they would normally do,” he said.The delay in getting the EUV license has “zero” impact on the company’s business, he said. The licensing issue concerns their first-ever EUV order from a customer in China, where few companies are at the stage of ordering the cutting-edge technology. ASML mostly ships the machines, which cost roughly 150 million euros, to the U.S., Korea and Taiwan.The company forecast first-quarter sales largely in line with analyst expectations and said it won orders for nine more of its EUV lithography machines in the last quarter. The Dutch company said it expects sales of 3.1 billion euros ($3.4 billion) to 3.3 billion euros for the first quarter, compared with an average estimate of 3.26 billion euros.ASML also announced a share buy-back program of as much as 6 billion euros over three years, as it said it expects to win 4.5 billion euros in EUV revenue this year.(Updates with CEO comments from the 15th paragraph)\--With assistance from Joost Akkermans and Gao Yuan.To contact the reporters on this story: Ellen Proper in Amsterdam at eproper@bloomberg.net;Natalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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