Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Trade angst, Infineon deal pull European shares lower

Published 06/03/2019, 03:34 PM
Updated 06/03/2019, 03:40 PM
Trade angst, Infineon deal pull European shares lower
DE40
-
STMPA
-
IFXGn
-
ASMI
-
CY_old
-
STOXX
-
SX8P
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 3 (Reuters) - European shares took another leg down on
Monday as China sent another shot across Washington's bows on
trade, stirring fears of recession, while German chipmaker
Infineon's deal to buy a U.S. peer weighed on the technology
sector.
The pan-European STOXX 600 .STOXX was down 0.6% by 0720
GMT, extending losses from Friday that marked its worst monthly
performance this year. Germany's DAX .GDAXI , which is
particularly exposed to trade risks, was down 0.7% to a
two-month low.
Stock markets globally took a hammering in May, with the
STOXX sinking more than 6% as a series of new developments in
President Donald Trump's trade war with China and others
convinced some investors a slide into recession was possible
over the next year.
Data on Monday showed factory activity across most Asian
countries contracted last month, indicating tariff wars were
taking a toll. Results of the latest surveys on European and
U.S. manufacturing are due later in the day. In M&A news, Germany's Infineon IFXGn.DE agreed to buy
U.S. peer Cypress Semiconductors CY.O in a deal valuing the
company at 9 billion euros, including debt. Infineon's shares
fell 5%, putting it at the bottom of the STOXX 600. The tech sector .SX8P , also heavily exposed to the trade
issue, was down 1.1%, with other chipmakers STMicroelectronics
STM.MI and ASM International ASMI.AS falling more than 1%
each.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.