European stocks fall, tech shares slide after Nvidia forecast disappoints
Europe’s main stock indexes fell on Thursday, as sluggish market sentiment with geopolitical tensions boosting some safe-haven demand, while chip stocks were the biggest drag after sector forecaster Nvidia forecast disappointing earnings.
The pan-European STOXX 600 index edged down 0.1%, as of 0820 GMT, heading for a fifth straight session of losses amid uncertainty over the escalating Ukraine-Russia conflict and the possible domestic fallout from a U.S. President Donald Trump victory
Safe-haven bids for gold and the Swiss franc rose, while the dollar weakened on anticipation of more clarity on Trump’s proposed policies and the prospect of less aggressive U.S. interest rate cuts.
Shares in chipmakers ASML (ASML), Infineon and ASM International fell, after AI chip leader and the world’s largest company by market value Nvidia forecast its slowest revenue growth in seven quarters.
However, Soitec jumped 14%, after the French semiconductor supplier’s half-year results, limiting the tech sector’s losses.
Personal and household goods, retail and automotive were the worst-hit sectors, down between 0.8% and 1.0%.
CTS Eventim fell 8% following the German ticketing group’s nine-month results, while JD Sports Fashion slumped 13%, after the sportswear retailer warned that its annual profit would come in at the lower end of its guided range.
Halma rose 9%, after the health and safety equipment maker reported its half-year results.
Source: Investing.com
