News: BHP LIVE MARKETS-Tech rally passes Nvidia test

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TECH RALLY PASSES NVIDIA TEST The tech rally has passed the Nvidia NVDA.O test, with the U.S. chipmaker surprising investors once again with a forecast above Wall Street estimates that sent its shares rallying 7% to a new lifetime high in early Frankfurt trade.

The positive news is set to energise global tech shares, but a major uplift is yet to be seen for Europe's benchmarks, which were poised for slightly positive start near recent peaks.

Nasdaq NQc1 futures gained 0.9% and Europe's own AI darling ASML ASML.AS added 1.3% in Frankfurt.

EuroSTOXX50 STXEcv1 futures rose 0.3% and contracts on the FTSE 100 FFIc1 traded at par with Wednesday's close, unimpressed by unfolding political drama in the UK.

Rishi Sunak and his Labour Party rival Keir Starmer will kick off their election campaigns in earnest on Thursday, a day after the PM surprised the nation by calling a vote for July 4.

Staying in the UK, National Grid NG.L said it would raise about $8.90 billion in a fully underwritten rights issue as the utility firm steps up its investment in network infrastructure.

Anglo American AAL.L also stayed at the centre of attention after rejecting BHP's (BHP) third bid proposal. Sources said BHP will stand firm on the structure and value of its latest proposal, focusing instead on allaying its target's concerns around execution risks over the coming week.

Returning to tech, German software maker SAP SAPG.DE might get some positive readacross from Snowflake SNOW.N , which raised its expectations for the year, on strong demand for its cloud-based services amid a surge in use of generative AI.

In other corporate news, imaging solutions group Exosens said it aimed to raise 180 million euros in an initial public offering on Euronext Paris.

Swedish games developer Embracer's EMBRACb.ST Q4 operating profit met market expectations, driven by growth in its Tabletop Games segment that was helped by a better product mix.

(Danilo Masoni)

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NVIDIA earnings	https://reut.rs/4awNC1y 

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