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Tech stocks weigh on Europe, Brexit delay looms

  • 📰 Reuters
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

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European shares fell as UK lawmakers hit the pause button on Brexit and amid worries over the outlook for tech stocks

The pan-European STOXX 600 index fell 0.1% as the Brexit saga hit another snag after British lawmakers rejected Prime Minister Boris Johnson’s timetable.

European stock markets have been rattled in the past few months by geopolitical concerns, a prolonged U.S.-China trade war and a manufacturing recession in the bloc’s biggest economy, Germany. With the focus now squarely on corporate earnings, analysts expect a drop of as much as 5.3% in third-quarter profit, worse than the 3.7% fall expected a week ago, according to IBES data from Refinitiv.

 

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