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European stocks hit 2-week low ahead of PMI data

Published 03/24/2021, 04:20 PM
Updated 03/24/2021, 04:30 PM
© Reuters.
INTC
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ASMI
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ASML
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BESI
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STOXX
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 24 (Reuters) - European stocks hit a two-week low on
Wednesday as renewed lockdowns across the eurozone and a row
over the supply of COVID-19 vaccines dented sentiment ahead of
the release of business activity data.
The pan-regional STOXX 600 index .STOXX fell 0.6% by 0810
GMT after the prospect of U.S. tax hikes to pay for the large
stimulus package spooked Wall Street overnight. .N
Meanwhile, the European Union is set to extend COVID-19
vaccine export curbs to Britain and other areas with much higher
vaccination rates, and to cover instances of companies
backloading contracted supplies, EU officials said. All eyes will turn to IHS Markit's March business surveys
for the euro zone and the United Kingdom.
Chipmakers, including ASM International ASMI.AS , ASML
ASML.AS and BE Semiconductor BESI.AS , were the top gainers
on STOXX 600, up between 3% and 5.3% after U.S. firm Intel Corp
INTC.O announced a $20 billion plan to expand its advanced
chip manufacturing capacity. Banks, retailers and travel stocks declined the most on
recovery worries.

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