European tech stocks experienced gains on Monday. The U.S. granted tariff exclusions on smartphones, computers, and some other electronics primarily imported from China, fueling the rise.
European semiconductor companies also increased in value. ASM International (ASMI.AS), Infineon (IFXGn.DE), and ASML (ASML.AS) showed the strongest gains, rising about 2% by 0720 GMT, because they are most exposed to the U.S. market.
Europe’s chipmakers provide key chips to the smartphone and personal electronics industries. Companies like ASML, which make computer chip equipment, are now excluded from Trump’s 10% “baseline” tariffs into the U.S.
Apple’s (AAPL.O) shares jumped over 6% in Frankfurt. Other U.S. tech stocks listed in Frankfurt also traded higher; Nvidia (NVDA.O) increased more than 3%, and Dell Technologies (DELL.N) rose 6.3%.
Despite the positive movement, uncertainty persists. U.S. President Donald Trump stated on Sunday that “he would announce levies on imported semiconductors, and the whole supply chain, over the next week.”
The European tech index (.SX8P) climbed 2.8%. Stocks like Computer parts maker Logitech (LOGN.S) increased by about 5%, while SAP (SAPG.DE) and Dassault Systemes (DAST.PA) grew by 2%.
Nasdaq futures gained 1.6% in early European trading hours.
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