Tech, oil slump sends European shares to two-month low

  • Reuters
  • Stock Market News
Tech, oil slump sends European shares to two-month low
Credit: © Reuters.

LONDON, June 28 (Reuters) - A slump among technology stocks after a global cyber attack added to depressed crude prices to cast a cloud over European shares on Wednesday, sending them to their lowest in two months.

The pan-European STOXX 600 .STOXX hit its lowest since April 24 in early deals, down 0.7 percent, in step with euro zone stocks .STOXXE and blue-chips .STOXX50E .

Technology stocks .SX8P fell 1.2 percent to a two-week low, the worst performer with every stock on the index in the red, hit by jitters after a ransomware attack swept the globe, disrupting computers at banks and large companies including WPP WPP.L , Moeller Maersk MAERSKb.CO and Metro MEOG.DE . makers AMS AMS.S , Dialog Semiconductor DLGS.DE , ASM International ASMI.AS and STMicro STM.MI were among the worst performers.

Lower oil prices weighed on oil and gas stocks .SXEP , with Tullow Oil TLW.L the biggest faller after its first-half results. positive results and acquisitions drove the handful of gainers.

Business supplies distributor Bunzl BNZL.L rose 4 percent after saying a boost in recent acquisitions would help it increase first-half revenue 7 percent. industrial group Legrand LEGD.PA rose 2.8 percent after saying it would buy U.S. infrastructure company Milestone.

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