European Stocks Continue to Rise

European stocks continued to rise on Tuesday, led by semiconductor manufacturing shares that boosted technology stocks ahead of Nvidia's earnings report. The share of Ubisoft, a video game company, reached its highest level in three weeks due to Activision's intention to sell the streaming rights for "Call of Duty." The Stoxx 600 index rose by 0.7 percent at the close after increasing by 1.2 percent during the day, marking the second consecutive day of gains. Technology shares increased by two percent, hitting a one-week high, supported by semiconductor manufacturing stocks rising between 0.7 and 3.3 percent amid optimism about Nvidia's quarterly results, which are set to be released on Wednesday. Gailes Coghlan, chief market analyst at HYCEM, stated, “Markets hope that the AI hype will lead to some profitability.” Meanwhile, Activision Blizzard is set to sell streaming rights to Ubisoft Entertainment, raising the French company's shares by 8.5 percent and making it the top performer on the Stoxx 600 index. The Stoxx 600 index is on track to record its worst monthly performance so far this year, with rising bond yields across Europe negatively impacting stocks in August.