Markets

European stocks fall for second straight session led by tech sector

2019-07-18 12:27:25 GMT (Economies.com)

European shares fell on Thursday morning, extending losses for the second straight session, as the technology sector declined led by weak business results from SAP, as well as reports of difficulties in the US-China trade talks due to restrictions on Huawei.

 

As of 11:15 GMT, Stoxx Europe 600 fell by more than 0.2%, and the index ended yesterday's session down by 0.4%, the first loss in four sessions, after disappointing comments from the US President on trade talks with China, while the energy sector has been hit by falling oil prices.

 

The Index fell today to continue its losses for a second straight session, with most of Europe's markets and sectors in the red zone.

 

The technology sector led the list of losing sectors in Europe with a drop of more than 1.6%, after weak business results from the software company SAP in addition to the renewed fears of the trade war between the United States and China.

 

SAP fell more than 6%, after the biggest company in Europe revenues came lower than forecasts in the second quarter of this year.

 

While some reports indicate that US-China trade talks are in a dead end due to US restrictions on Huawei.

 

The S&P 500 futures fell more than 0.2%, and the index ended yesterday's session down by 0.65%, the second consecutive daily loss, on correction and profit taking after the index hit an all-time high of 3,017.80 points.

 

In Germany, DAX lost more than 0.5% to top the list of losing markets in Europe, Euro Stoxx 50 index fell by 0.15%, while in France, the CAC 40 index shed 0.1%. and in London, the FTSE 100 index shed 0.3%.

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