Infineon sinks to 7-week low on Huawei concerns

EPA-EFE / LUKAS BARTH-TUTTAS

Germany's chipmaker Infineon Technologies AG saw its shares sink to the lowest point since March 28 on Monday, after it was reported that the company will halt its shipments to Chinese giant Huawei Technologies Co.

Infineon mostly sells microcontrollers and power management integrated circuits to Huawei, which was blacklisted last week by the United States, leading to restrictions from Google.

At 11:45 am CET, Infineon's shares were down 4.92% to €17.092, leading with losses on the DAX index.

Breaking the News / NI