Microchip maker Infineon Technologies is going to replace telecom equipment maker Nokia in the Euro Stoxx 50 , Stoxx said late Monday. The move is effective March 22. Stoxx didn't provide an explanation, but microchip makers have been buoyed by strong demand and a shortage of supplies. In early trade, Nokia slipped 1.3% while Infineon slipped 0.4%.
The Dutch company reported 24% sales growth on a comparable basis in its connected care business for the final quarter of 2020.