STMicroelectronics Soars on Revenue Upgrade, Lifting CAC 40 0.7%

STMicroelectronics NV (STM) shares surged on Tuesday, June 2, 2026, after the chipmaker raised its full-year revenue outlook, driving France’s CAC 40 index to a 0.7% gain. The upgrade reflected stronger-than-expected demand for its microcontrollers and power semiconductors in automotive and industrial applications. The stock jumped 8.3% to €44.60 in Paris trading, its sharpest single-day increase since March 2024. The company now projects 2026 revenue of €17.2 billion, up from a prior forecast of €16.5 billion, with gross margin also revised higher. The improved guidance cited accelerating orders from European automakers and a recovery in factory automation demand. The CAC 40 closed at 7,895.20, supported by the technology sector’s outperformance. The advance came despite lackluster eurozone manufacturing PMI data, as investors focused on the semiconductor sector’s bullish update.