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
The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »