Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Tech slide drags European shares lower as Brexit delay looms

Published 10/23/2019, 03:26 PM
Updated 10/23/2019, 03:32 PM
Tech slide drags European shares lower as Brexit delay looms
HEIN
-
PEUP
-
STMPA
-
RENA
-
VOLVb
-
IFXGn
-
TXN
-
FTMC
-
DLGS
-
STOXX
-
ISEQ
-
SX8P
-
SXAP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 23 (Reuters) - European shares fell on Wednesday as a
warning from U.S.-based Texas Instruments about a slowdown in
the global tech industry weighed on European technology stocks,
while UK lawmakers hit the pause button on Britain's exit from
the European Union.
The tech sector .SX8P fell 1.3%, dragged down by shares of
STMicroelectronics STM.MI , Dialog Semiconductor DLGS.DE and
Infineon Tech IFXGn.DE after poor forecasts from sector proxy
Texas Instruments TXN.O . The pan-European STOXX 600 index .STOXX fell 0.4% by 0711
GMT. FTSE midcap stocks .FTMC and Irish equities .ISEQ ,
barometers of Brexit expectations, lost 0.3% and 0.2%
respectively.
UK lawmakers approved Prime Minister Boris Johnson's deal on
Tuesday, but defeated his proposal to push the legislation
through Parliament in three days, prompting Johnson to recommend
that the European Union delay the Oct. 31 deadline for the UK to
leave the bloc. Carmaker PSA Group PEUP.PA fell 0.6%, weighing on auto
stocks .SXAP , after the company lowered its outlook for major
auto markets, confirming trouble for the sector after last
week's poor earnings from Renault RENA.PA and Volvo
VOLVb.ST .
Heineken HEIN.AS shares dropped 1.5% after the world's
second-largest brewer forecast operating profit this year would
be at the lower end of its previous outlook.

Latest comments

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.