Europe: Shares open lower on weak tech, banks rise on merger talks
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BENGALURU] European shares opened lower on Friday as a technology-fuelled rout from the prior session continued, while bank stocks were supported by merger talks between major Spanish lenders.
The pan-European Stoxx 600 index fell 0.9 per cent in early trade after marking its worst session in more than a month on Thursday. It was set to lose 0.8 per cent for the week.
Technology shares led early losses after posting their worst session in more than four months on Thursday.
Losses in US tech stocks had spread over to other sectors and markets, with Asia also marking a weak morning session.
Investors are now waiting for US payroll data expected later in the day to gauge the pace of the country's economic recovery.
In corporate news, Spanish banks Bankia and Caixabank rose after they said they were considering a merger to create the biggest lender in Spain.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
