Semiconductor shares jump after EU introduces single charging port

Shares in European semiconductor manufacturers rose on Tuesday after the European Parliament approved rules to introduce a single charging port for mobile phones, tablets and cameras to be in use across the bloc by 2024.

Shares in ASM International (ASMI.AS), Infineon , STMicroelectronics and BESI (BESI.AS) rose between 4.7% and 7.3% after the announcement.

The vote confirms an earlier agreement among EU institutions and will make USB-C connectors used by Android-based devices the EU standard, forcing Apple (AAPL.O) to change its charging port for iPhones and other devices.

STMicro and Infineon are two of Apple’s suppliers.