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.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search