Europe 50بيع
European stocks close lower as tech sell-off weighs on market
European stocks closed lower on Thursday (July 18), for the fourth straight day, as investors continued to sell off chip stocks, overshadowing the release of positive corporate earnings reports, as investors assessed the European Central Bank 's (ECB) latest decision to keep lending rates steady.
The STOXX 600 index closed at 514.01 points, down 0.82 points or -0.16%.
The French CAC-40 index closed at 7,586.55 points, up 15.74 points or +0.21%, the German DAX index closed at 18,354.76 points, down 82.54 points or -0.45%, and the London FTSE 100 index closed at 8,204.89 points, up 17.43 points or +0.21%.
The ECB held rates steady at its Thursday meeting, as expected, with the deposit rate unchanged at 3.75%, the lending rate unchanged at 4.50% and the refinancing rate unchanged at 4.25%.
The ECB said it was still uncertain what to decide at its September meeting, while lowering its forecast for the eurozone economy and expecting inflation to remain subdued.
Government bond yields continued to decline, with the euro down 0.2% against the dollar.
The technology sector index fell for a fourth straight day, falling 1.8% as chip stocks such as ASML, ASM International and BE Semiconductor fell.
Global chip stocks have been under pressure since Wednesday after reports that the United States has told allies it is considering the harshest trade restrictions to block China's access to chip-making technology.
However, auto stocks rose 1.2% against the market trend, as Sweden's Volvo Cars jumped 11% after reporting better-than-expected second-quarter results.
But Finland's Nokia shares fell 5% after reporting a 32% plunge in quarterly profit.
The STOXX 600 index closed at 514.01 points, down 0.82 points or -0.16%.
The French CAC-40 index closed at 7,586.55 points, up 15.74 points or +0.21%, the German DAX index closed at 18,354.76 points, down 82.54 points or -0.45%, and the London FTSE 100 index closed at 8,204.89 points, up 17.43 points or +0.21%.
The ECB held rates steady at its Thursday meeting, as expected, with the deposit rate unchanged at 3.75%, the lending rate unchanged at 4.50% and the refinancing rate unchanged at 4.25%.
The ECB said it was still uncertain what to decide at its September meeting, while lowering its forecast for the eurozone economy and expecting inflation to remain subdued.
Government bond yields continued to decline, with the euro down 0.2% against the dollar.
The technology sector index fell for a fourth straight day, falling 1.8% as chip stocks such as ASML, ASM International and BE Semiconductor fell.
Global chip stocks have been under pressure since Wednesday after reports that the United States has told allies it is considering the harshest trade restrictions to block China's access to chip-making technology.
However, auto stocks rose 1.2% against the market trend, as Sweden's Volvo Cars jumped 11% after reporting better-than-expected second-quarter results.
But Finland's Nokia shares fell 5% after reporting a 32% plunge in quarterly profit.
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