Let be a real Banach space. We study the Ornstein-Uhlenbeck semigroup
associated with the Ornstein-Uhlenbeck operator Here is a positive symmetric operator from
to and is the generator of a -semigroup on . Under
the assumption that admits an invariant measure we prove that if
is eventually compact and the spectrum of its generator is nonempty, then for all with . This result
is new even when . We also study the behaviour of in the space
. We show that if there exists such that for all with . Moreover,
under a nondegeneracy assumption or a strong Feller assumption, the following
dichotomy holds: either for all ,
, or is the direct sum of a nilpotent semigroup and a
finite-dimensional periodic semigroup. Finally we investigate the spectrum of
in the spaces and .

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