Europe: Shares steady, although Ericsson slumps
[LONDON] European stock markets were steady in early trading on Wednesday, although Sweden's Ericsson led the region's technology stocks down to a one month-low after issuing a profit warning.
The STOXX 600 index was up 0.1 per cent, having fallen in the previous session.
Germany's DAX advanced 0.2 per cent. Britain's blue-chip FTSE 100 index edged up 0.1 per cent, while the UK's FTSE 250 mid-cap index gained 0.3 per cent.
Telecoms equipment maker Ericsson dropped more than 16 per cent to its lowest point since 2008 after warning that its third-quarter profit would be "significantly lower" than expected after a downturn in its mobile broadband business had accelerated.
Peer Nokia also dropped, down six per cent, set for its biggest daily loss since Jun 27.
Among the top risers, however, Deutsche Lufthansa gained 4.6 per cent after an upgrade from Kepler Cheuvreux, while Ryanair and easyJet also rose.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Singapore stocks track Wall Street gains on Tuesday; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN