Apple suppliers weigh on European shares as equity rally falters

  • Reuters
  • Stock Market News
Apple suppliers weigh on European shares as equity rally falters

LONDON, Sept 13 (Reuters) - European shares faltered on Wednesday as a global equity rally showed signs of flagging, with Apple suppliers struggling after the new iPhone release disappointed with a later than expected shipping date.

The pan-European STOXX 600 .STOXX dipped 0.3 percent as weakness in chipmakers was compounded by a drop in miners .SXPP . MET/L

Euro zone stocks and blue-chips .STOXX50E held steady, while Germany's DAX .GDAXI , which touched its highest in nearly two months on Tuesday, fell back 0.1 percent.

Chipmakers supplying to Apple AAPL.O were among the worst performers, with AMS AMS.S down 3.2 percent, while Dialog Semiconductor DLGS.DE slipped 1.7 percent and STMicro STM.MI fell 1.1 percent.

Traders said their shares were under pressure due to Apple's new $999 iPhone X shipping later than expected, on November 3. have been the best-performing among Europe's tech stocks this year, accounting for a large chunk of the sector's outperformance. AMS shares have gained 165 percent year-to-date.

The merging eyewear and lens makers Luxottica LUX.MI and Essilor ESSI.PA were also among the biggest fallers, down 1.9 to 2.1 percent. EU antitrust regulators were set to tell the firms of concerns they have over the merger this week. 1COV.DE was among a handful of risers, up 1.5 percent after German drugs and pesticides group Bayer BAYGn.DE sold a 9.4 percent stake in the firm. Apple suppliers shoot ahead of tech stocks


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