European shares rise at open as chipmakers rally; Ubisoft shines

European shares opened higher on Tuesday, with technology stocks leading gains as chipmakers caught up to an overnight Wall Street rally ahead of Nvidia’s earnings, while shares of Ubisoft gained.

By 0711 GMT, the pan-European STOXX 600 added 0.6%, tracking a 1% gain in the tech-heavy Nasdaq.

The technology sector added 1.3% as chip stocks rallied on optimism surrounding the world’s most valuable chipmaker Nvidia ahead of its quarterly results on Wednesday.

Shares of Amsterdam-listed chipmakers ASML Holding (AS:ASML) N.V., ASM International N.V and BE Semiconductor Industries N.V. gained between 1.4% and 2.0%.

Ubisoft Entertainment advanced 6.3% after Microsoft (NASDAQ:MSFT) said that its acquisition target Activision would sell its non-European streaming rights to the French video game producer.

European miners added 1.1%, tracking higher metal prices. [MET/L]

Prysmian rose 3.9% after the Italian cable maker was selected as ‘preferred bidder’ for 3 projects in Germany worth EUR 4.5 billion.