Europe
German Stocks Fall and Gains on EU Chips Act Funding
German equities fell after the European Commission approved a 920 million-euro state aid for Infineon Technologies’ new chip factory in Dresden.
• The funding is subject to official approval from Germany’s Federal Ministry for Economic Affairs and Climate Action.
• Infineon Technologies gained 1.58%, while Siemens Healthineers SHL shed 2.03% after Siemens AG SIE commenced the sale of a 2% stake in the medical technology company.
• In economic news, producer prices of industrial products in Germany rose 0.5% year over year in January, easing from the previous 0.8% increase and the expected 1.3% growth.
