Europe trades lower after Apple cuts guidance

Thursday, 03. January 2019 09:15

European stock markets declined in early trade on Thursday on continuing concerns of a global economic slowdown. Investors' fears were intensified after tech giant Apple lowered its first-quarter guidance as a result of "economic deceleration, particularly in Greater China." On the data front, market watchers awaited construction PMI data from the United Kingdom due later in the day.

The FTSE 100 was down 0.43% at 9:13 am CET. Burberry led the losses as its shares dropped 3.33% at 9:13 am CET.

The DAX fell 0.68% at 9:13 am CET with Infineon, down 3.02% at 9:14 am CET, as the worst performer.

The CAC 40 slid 0.96% at 9:17 am CET as STMicroelectronics plunged 5.48% at 9:15 am CET.

The Euro Stoxx 50 lost 0.60% at 9:15 am CET. ASML Holding contributed most to the losses as it slid 3.22% at 9:15 am CET.

The euro added 0.17% against the dollar to sell for 1.13648 at 9:17 am CET.

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Breaking the News / NP