Earnings, chip M&A talks keep European stocks buoyant By Reuters

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© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 12, 2021. REUTERS/Staff

(Reuters) – European stocks rose on Thursday after one of the worst selloffs this year as strong earnings and merger talks in the chip sector helped investors look past inflation worries.

The pan-European index rose 0.6% after suffering a 1.5% loss in the previous session. Asian stocks and U.S. futures, however, struggled after a hint of tapering talk from the U.S. Federal Reserve, while still reeling from a crash in cryptocurrencies. [MKTS/GLOB]

French conglomerate Bouygues (PA:) gained 2.3% after it raised the full-year guidance for its telecoms division and reported a smaller than expected first-quarter core loss.

Deutsche Telekom (OTC:) added 1% on raising its medium-term core profit outlook.

Oslo-listed chipmaker Nordic Semiconductor jumped 8.8% after an Italian daily reported that Franco-Italian chipmaker STMicroelectronics is mulling an offer to buy the company.

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