financetom
World
financetom
/
World
/
European shares open lower as tech losses weigh
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
European shares open lower as tech losses weigh
Jun 21, 2024 1:05 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

June 21 (Reuters) - European shares opened lower on

Friday, with technology shares at the helm of the selloff, while

Danish brewer Carlsberg Group slumped after British soft drinks

maker Britvic ( BTVCF ) rejected its $3.9 billion revised takeover

proposal.

The pan-European STOXX 600 was down 0.2%, as of

0715 GMT, with the technology sub-index losing 0.6%

after rising nearly 2% in the previous session.

The construction and materials sector slipped 0.7%,

while retail shed 0.5% as British discount chain B&M

fell 1.8% after Morgan Stanley lowered its rating to

"underweight" from "equal-weight".

The European benchmark was still on track for modest weekly

gains, following a more than 2% drop last week when markets were

rattled after French President Emmanuel Macron had called for a

snap parliamentary election.

Among other stocks, Denmark's Zealand Pharma,

jumped 23.1% after an early-stage study showed a high dose of

its drug helped reduce weight by an average 8.6% after 16 weekly

doses.

Carlsberg Group dropped nearly 6% after Britvic ( BTVCF )

rejected its takeover bid, citing that the proposal

"significantly undervalued" the group and its prospects. Shares

of Britvic ( BTVCF ) jumped 14.4%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved