European stocks rise supported by strong expectations from “NVIDIA” for chip manufacturers

European stocks rose on Thursday, May 23, after strong expectations from the artificial intelligence company Nvidia supported the shares of chip manufacturers globally, while investors awaited the latest business surveys to determine expectations about the euro zone economy and the path of interest rates.

According to SNBC, the European STOXX 600 index rose 0.2%, with the technology index rising 1.2% to lead sector gains.

Shares of European semiconductor companies increased in a range between 1.5% and 2.4% after Nvidia expected to achieve quarterly revenues higher than estimates, announced a stock split and raised its quarterly dividends by 150% on a post-split basis.

Sectors such as utilities and real estate declined, with the shares of the British National Electricity Network falling by about 8% after it announced plans to raise about seven billion pounds ($8.9 billion) through the issuance of full subscription rights.

The British FTSE 100 index stabilized after Prime Minister Rishi Sunak called yesterday, Wednesday, for general elections on the fourth of July.