quarter earnings forecast, citing rising demand for its wide array of microchips. A report by the U.S. Semiconductor Industry Association, saying it expected global chip sales to rise 6 percent in 2005, more than previously forecast, further boosted sentiment in the sector. STMicroelectronics added 2.4 percent, also helped by a rating upgrade from UBS to "buy" from "reduce", saying the company would benefit from restructuring, product developments and currency movements. The company said on Wednesday that it would eliminate 2,300 jobs in Europe by mid-2006. Fellow chip maker Philips added 2.3 percent. Texas Instruments contributed to lift U.S. shares after mixed early dealings. By 1620 GMT, the Dow Jones industrial average was up 0.47 percent, at 10,531.91, while the technology-laced Nasdaq Composite Index edged 0.28 percent higher to 2,073.03.
