European stocks fell, paced by technology companies such as Nokia Oyj and ASML Holding NV, amid concern earnings and sales growth will slow
Published:
23 July 2004 y., Friday
European stocks fell, paced by technology companies such as Nokia Oyj and ASML Holding NV, amid concern earnings and sales growth will slow. The Dow Jones Euro Stoxx 50 Index had its biggest drop in more than two months.
STMicroelectronics NV slipped after the chipmaker said currency effects and competition will hurt profitability. LVMH Moet Hennessy Louis Vuitton SA slid after the luxury-goods maker's profit growth was less than some analysts expected.
The Euro Stoxx 50, a measure for the 12 countries using the euro, lost 1.6 percent, the most since May 10. The Dow Jones Stoxx 50 shed 1.5 percent to 2592.29 as of 11:55 a.m. in London, with all but two stocks declining. The Stoxx 600 dropped 1.3 percent, on pace to close at its lowest since May 18.
U.S. technology stocks slid yesterday, led by Motorola Inc. Texas Instruments Inc. slid after an executive said growth in the handset industry will slow. EBay Inc. dropped in Europe after saying profit will lag estimates.
All three European benchmarks more than erased their gains from yesterday, when companies including Ericsson AB posted higher-than-forecast earnings.
Šaltinis:
Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »