Logitech International SA (LOGI) shares are soaring 6.90% in pre-market trading on Monday, riding the wave of a broader rally in European technology stocks. The surge comes in the wake of a significant development in U.S.-China trade relations, as the two economic giants have agreed to suspend most tariffs on each other's goods.
The agreement, reached during trade negotiations in Switzerland, has sparked optimism across the technology sector, which has been particularly vulnerable to ongoing trade tensions. Logitech, a Swiss-American manufacturer of computer peripherals and software, is among the key beneficiaries of this positive turn in international trade dynamics.
The impact of the tariff suspension is not limited to Logitech alone. Other European tech stocks are also experiencing substantial gains. Dutch semiconductor equipment maker ASML has risen 4.6%, while its smaller peers ASM International and BE Semiconductor Industries have gained 6.8% and 5.9%, respectively. Chip makers Infineon and STMicroelectronics have both seen increases of more than 6%. This broad-based rally underscores the far-reaching implications of the U.S.-China trade agreement on the global technology sector, with investors anticipating improved business conditions and reduced operational costs for tech companies.
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