Brussels, October 16 (QNA) – European stocks recorded a weak start today, ahead of the European Central Bank’s monetary policy decision, under the influence of shares of technology companies and luxury goods, while European indexes fell Stoxx 600 0.3 percent.
Shares of ASML, the world’s largest chip manufacturing equipment company, fell 4 percent, causing the technology sub-index to fall 1.2 to its lowest level in a month.
While shares of the French company LVMH fell 7 percent after announcing a decline in sales in the third quarter.
In the same sector, shares of Kering, which owns Gucci, Hermès, the maker of Birkin bags, and Richemont, which owns Cartier, fell between 2.1 percent and 5.3 percent.
This led to a two percent decline in the general personal and household goods index, which also includes companies such as Burberry and Swatch.
However, London’s Financial Times Index rose 0.6 percent after data showed British inflation fell more than expected in September, paving the way for an interest rate cut next month. .
Among individual stocks, Stellantis fell 2 percent after warning of a 20 percent drop in combined shipments in the third quarter.
Shares of shoemaker Adidas fell three percent after announcing third-quarter results.
2024-10-16 09:46:00
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