European tech, semi stocks jump on Fed rate cut and Nvidia's investment in Intel

** Shares of European semiconductor and tech stocks rise after the U.S. Federal Reserve lowered interest rates with signalling more cuts ahead and Nvidia's taking $5 billion stake in Intel

** STOXX Europe technology index (.SX8P) rises 3.9% and tracks for best day since April

** Abed Jarad from mwb-research says that the positive sentiment is mainly driven by the Fed's decision to cut rates by 25 basis points, with the dot plot suggesting two more cuts later this year

** "I see wafer stocks and semis up basically on the FED rate cut," Aleksander Peterc from Bernstein SG says, adding that Nvidia's NVDA investment of $5 billion in Intel INTC is also positive for the sentiment

** Germany's Infineon IFX up 4%, Aixtron AIXA gains 7.8% and Siltronic WAF jumps 13.2%

** BE Semiconductor BESI is up 5.2%, while equipment manufacturers ASML ASML and ASMI ASM jump 7.2% and 7.6%, respectively

** Franco-Italian chipmaker STMicroelectronics STMPA and Swiss sensor maker ams OSRAM AMS rise around 5%

** Nordic Semiconductor NOD and Soitec SOI are up 2.8% and 9.9%, respectively

** German software developer Teamviewer TMV rises 3.2% and Europe's largest software maker SAP SAP is up 4.6%