TEHRAN, Young Journalists Club (YJC) -European shares dipped on Wednesday morning as a new batch of corporate updates prompted fresh concerns, particularly on the tech sector, and added to worries about a global growth slowdown and Sino-U.S. trade negotiations.
At 0941 GMT, the STOXX 600 was down 0.1 percent, with most bourses across Europe losing ground and a number of steep individual falls at the open.
A profit warning by Ingenico (INGC.PA) sent the French payment group down over 12 percent to six-year lows and hit the whole European tech sector .SX8P, which retreated 0.9 percent.
Still in the sector, ASML Holding NV (ASML.AS), a major supplier to the world’s largest computer chipmakers, fueled concerns among investors as it warned that first-quarter sales would be weak, with some customers delaying orders into the second half of 2019.
A profit miss by Metro Bank (MTRO.L) triggered a spectacular 30 percent fall and gave no respite to a sector already weakened during the previous session by Swiss bank UBS’s (UBSG.S) fourth-quarter earnings report.
The car making sector .SXAP was sustaining the biggest losses on worries about trade negotiations between the Trump administration and the Chinese government ahead of high-level talks next week.
European retailers .SXRP, however, rose 0.5 percent to a seven-week high after supermarket groups Carrefour (CARR.PA) and Ahold Delhaize (AD.AS) posted trading updates and gained 7 percent and 2.9 percent respectively.