EUROPE MARKETS: European Stocks Lose Ground Again As Tech Shares Struggle
August 17 2016 - 5:51AM
Dow Jones News
By Carla Mozee, MarketWatch
ASML shares flop after Intel snub
European stocks lost ground Wednesday, with semiconductor
company ASML Holding NV and brewer Carlsberg AS among the largest
decliners, as investors waited for clues to whether U.S. policy
makers are ready to start raising interest rates.
The Stoxx Europe 600 shed 0.3% at 342.31, with only the telecom
sector moving higher.
Technology shares were the worst performing, with ASML (ASML.AE)
shares losing 4.9% after Intel Corp. (INTC) said it won't use
lithography technology made by the Dutch chip-equipment company to
produce its 10-nanometer chips, according to media reports
(http://www.bloomberg.com/news/articles/2016-08-16/intel-licenses-arm-technology-in-move-to-boost-foundry-business).
Also near the bottom of the index, Carlsberg A/S shares flopped
4% after the Danish brewer's first-half sales slipped to 31.24
billion kroner
(http://www.marketwatch.com/story/carlsberg-net-profit-up-25-despite-fall-in-sales-2016-08-17),
coming in less than an estimate of 31.56 billion kroner in sales.
Net profit climbed 25%.
The pan-European index on Tuesday fell 0.8%
(http://www.marketwatch.com/story/european-stocks-pull-back-but-miners-show-strength-2016-08-16),
with only the commodity sectors advancing. A loss Wednesday would
be the benchmark's fourth in a row.
Fed minutes: Investors will find out what U.S Federal Reserve
policy makers had to say about interest rates at their last on
Wednesday. Minutes from the Fed's July meeting are slated for
release at 2 p.m Eastern Time, or 7 p.m. London time, after the
close of European trade.
Indexes: Germany's DAX 30 fell 0.7% to 10,604.08, and France's
CAC 40 was down 0.6% to 4,432.06.
The FTSE 100 shed 0.1% to 6,885.45, while Italy's FTSE MIB lost
1.2% to 16,589.66. Spain's IBEX 35 dropped 0.7% to 8,560.10.
The euro was buying $1.1266 compared with $1.1279 late
Tuesday.
(END) Dow Jones Newswires
August 17, 2016 05:36 ET (09:36 GMT)
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