European Shares Slip Ahead of Economic Data; Avast Soars


Share post:

(Reuters) – European shares fell in early trading on Wednesday ahead of key business growth data, while broader markets weighed the potential fallout from U.S. House Speaker Nancy Pelosi’s visit to Taiwan.

The STOXX 600 index slipped 0.2% at 7:10 GMT.

Investors are awaiting crucial data on business growth and services in the euro zone to gauge the continent’s economic health amid fears of a recession.

Luxury carmaker BMW dropped 5.5% after warning of a highly volatile second half.

Strong earnings reports from other companies capped losses in morning trade.

Infineon, the leading supplier of microchips to the auto industry, rose 3.1% on lifting its full-year outlook as it posted a 33% year-on-year increase in quarterly revenue.

Britain’s competition regulator said it has provisionally cleared cybersecurity firm NortonLifeLock’s $8.6 billion purchase of rival Avast. London-listed Avast’s shares jumped 42.4%.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak Dasgupta)

Copyright 2022 Thomson Reuters.


Please enter your comment!
Please enter your name here


Related articles

Real Madrid Chief Florentino Perez Insisting On European Super League

Real Madrid president Florentino Perez again insisted on the idea of a European Super League when speaking...

‘Andor’ Star Diego Luna on How Being a Latino Helped Him Find His Character Journey

With Andor now streaming on Disney Plus, lead actor Diego Luna stopped by “This Week in Star...

Kuwait’s government resigns – Middle East Monitor

Kuwait's Crown Prince Sheikh Meshal Al-Ahmad Al-Sabah on Sunday accepted the resignation of the Kuwaiti government after...

GOP cuts into Democrats’ lead among Latino voters, new poll shows

Less than six weeks before November’s midterm elections, Democrats lead Republicans by more than 20 points among...
English English Somali Somali