Europe stocks close higher and easing restrictions Huawei supports the technology sector
European shares rose Tuesday, supported by technology companies that offset some of the losses of the previous session following a temporary easing of US restrictions on Huawei of China.
The United States allowed Hewaw Technologies to buy US-made products to maintain existing networks and to provide updates to its existing hardware software until Aug. 19 after Huawei was banned from buying US products last week.
The Stoxx 600 European index gained 0.5%, with the German DAX index soaring 0.9%. The British Financial Times 100 index trimmed gains, with sterling gaining on Prime Minister Teresa Mae's comments on upcoming voting on Britain's exit from the European Union.
The European Technology Index rose 1.6 percent, after falling 2.8 percent on Monday. Chip makers Infineon Technologies, EMS and ST Microelectronics rose 1-4.2 percent.
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