European Shares Open Lower on Tepid Earnings and Inflation Data Awaited
European Shares Dip Due to Lacklustre Corporate Earnings
European shares dipped on Wednesday as lacklustre corporate earnings weighed on sentiment. Markets are bracing for inflation data from the U.S. and Europe later in the week for insights into the interest rate outlook. The pan-European index was down 0.1% by 0820 GMT.
Technology Sub-index Sees Decline
The technology sub-index lost 0.6%, with ASM International leading the decline with a nearly 2% slump after its fourth-quarter revenue slipped year-over-year. UK’s Reckitt missed fourth-quarter like-for-like net sales expectations, attributing it to a drop in sales of cold and flu season products. Shares of the consumer goods group shed 8.8%, while the broader personal and household goods index was off 0.7%, leading sectoral losses.
Worldline Reports Full-Year Loss
Worldline tumbled 13.4% after the payment firm reported a full-year loss due to a 1.15-billion-euro ($1.25 billion) “goodwill impairment” linked to its merchant services activities. Investors are eagerly awaiting the euro zone consumer confidence figures for February, set to be released at 1000 GMT.
