European shares stabilise after four-day losing streak
Reuters
Published Dec 04, 2019 08:31
(Reuters) - European shares edged higher on Wednesday, after a four-day slump, as gains in technology stocks and encouraging China services sector data helped offset more worries around the U.S.-China trade dispute.
The pan-European STOXX 600 index (STOXX) rose 0.2% by 0812 GMT, after hitting a one-month low on Tuesday following U.S. President Donald Trump's remarks that a trade agreement with China might have to wait until after the U.S. presidential election in November 2020.
Trade-sensitive German shares (GDAXI), up about 0.2%, also recovered from a 1-month low, with chipmakers including Infineon Technologies (DE:IFXGn) and STMicroelectronics (PA:STM) gaining after upbeat earnings forecast from U.S. peer Microchip Technology (O:MCHP).
Shares in Airbus (PA:AIR) rose 0.6% after winning an order from U.S. carrier United Airlines (O:UAL).
A big decliner was French telecom company Orange (PA:ORAN), sliding 3.9%, after traders pointed to disappointment over the firm's dividend outlook even as it announced plans to carve out its mobile towers in most European countries where it is present.
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Written By: Reuters
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