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European shares open lower on weak tech, banks rise on merger talks

Published 09/04/2020, 03:24 PM
Updated 09/04/2020, 03:30 PM
© Reuters.
CABK
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BKIA
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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)
Sept 4 (Reuters) - European shares opened lower on Friday as
a technology-fueled rout from the prior session continued, while
bank stocks were supported by merger talks between major Spanish
lenders.
The pan-European STOXX 600 index .STOXX fell 0.9% in early
trade after marking its worst session in more than a month on
Thursday. It was set to lose 0.8% for the week.
Technology shares .SX8P led early losses after posting
their worst session in more than four months on Thursday.
Losses in U.S. tech stocks had spread over to other sectors
and markets, with Asia also marking a weak morning session.
Investors were now waiting for U.S. payroll data expected later
in the day to gauge the pace of the country's economic recovery.
In corporate news, Spanish banks Bankia BKIA.MC and
Caixabank CABK.MC rose after they said they were considering a
merger to create the biggest lender in Spain.

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