Technology stocks pushed European shares to three-week lows on Thursday after so...
- Technology stocks pushed European shares to three-week lows on Thursday after software firm SAP reported poor results, the latest company to warn about damage from protracted trade tensions as gloom about earnings spreads across global equities.
That added to nerves around the first batches of corporate results in Europe and the United States this week and sent Germany's DAX“SAP’s results show a trend that traders have been expecting,” said Cityindex analyst Ken Odeluga in London. But a combination of earnings nerves, and some slightly stronger economic numbers which may prevent central banks from weighing in with more monetary policy pump-priming, have weakened sentiment globally in the past week.
The European tech sector was down 2%, and was on course to post its worst day in almost two months after the SAP and Netflix results.
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