European markets: weekly performance summary 2. May
Over the past ten days, the STOXX Europe 600 index fell slightly by 0.38%. The ongoing earnings season shows that strong demand is supporting the technology and financial sectors, while raw material and construction companies are grappling with rising costs. The market is reacting selectively to the results, assessing the actual profitability of companies.
STMPASTMicroelectronics (STMPA)
Q1 operating profit made a powerful leap, growing by 2,233.3% year-over-year to 70 million dollars. Revenue increased by 23%. The growth was driven by recovered demand for personal electronics and cloud service chips, as well as a more profitable product mix. The stock rose by 6.11% over the week, reaching a new high. The market also warmly welcomed the new series of ultra-low power image sensors, which strengthens the company's position in a growing market.
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