European stocks slipped from one-month highs on Wednesday, with technology stocks leading the losses as disappointing results from Wall Street giants and a warning from Dutch semiconductor supplier ASM added to concerns about slowing economic growth.
The pan-European STOXX 600 index fell 0.2% by 0719 GMT.
The index hit more than a one-month high in the previous session on hopes that the US Federal Reserve could slow its pace of interest rate hikes.
Technology stocks were the biggest decliners, down 1.7%, after downbeat results from Wall Street tech giants including Microsoft Corp and Alphabet Inc.
Further, ASM International tumbled 8.7%, after the company said it expected new US export restrictions to weigh heavily on its sales in China.
European stocks rise as earnings offset economic gloom
Heineken NV slid 7.0% after the world’s second-largest brewery reported a lower-than-expected rise in beer sales during the third quarter.
Mercedes-Benz slipped 0.7%, despite the German luxury carmaker raising its margin forecast for its cars division.
Comments
Comments are closed.