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European stocks hit by Iran tensions; M&A lifts tech

Published 06/25/2019, 03:27 PM
Updated 06/25/2019, 03:30 PM
European stocks hit by Iran tensions; M&A lifts tech
CAPP
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SAPG
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ALTT
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STOXX
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SX8P
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 25 (Reuters) - European shares dipped early on Tuesday,
as investors shied away from riskier assets in the face of a new
round of U.S. sanctions against Iran and doubts over whether
Washington and Beijing will make any progress on trade at a G20
summit this week.
President Donald Trump targeted Supreme Leader Ayatollah Ali
Khamenei and other top officials with sanctions on Monday and
Tehran said the sanctions imposed on its top officials
permanently closed the path to diplomacy between the countries.
A U.S. official also said on Monday that Trump was
"comfortable with any outcome" from talks with Chinese President
Xi Jinping at the meetings beginning on Friday.
The resulting anxiety on global markets weakened Asian
stocks and sent investors scurrying for the traditional security
of gold, the Swiss franc and the yen.
The pan-European STOXX 600 index .STOXX fell 0.3% by 0710
GMT, with the technology sector .SX8P bucking the trend on the
back of Capgemini's CAPP.PA purchase of engineering and
digital services company Altran ALTT.PA for 3.6 billion euros
($4.10 billion). Capgemini shares rose 7% and those in rival SAP SE SAPG.DE
0.3%, pushing the sector around half a percent higher, while
Altran surged 21%.

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