European markets were slightly lower Monday morning
European markets were slightly lower Monday morning, as investors monitored fresh economic data and corporate earnings.
The pan-European Stoxx 600 edged down around 0.2 percent during mid-morning deals, with sectors and major bourses pointing in opposite directions.
Europe’s banking index dipped 0.2 percent lower amid earnings news. Spanish state-owned lender Bankia cited one-off restructuring costs after it swung into the red in the fourth quarter. Its shares were over 4 percent lower on the news.
Technology stocks were trading higher Monday morning, up around 0.15 percent amid an uptick in revenue growth for electronic chip maker Austria Microsystems. The company said its revenue for 2017 almost doubled amid robust demand for its sensors from smartphone customers such as Apple. Its shares surged more than 18 percent.
Dialog Semiconductor was also trading higher on the news of a steep revenue increase from AMS. Its shares were up over 2 percent.
Looking at individual stocks, Getinge reported fourth-quarter profit far below market expectations on Monday. The Swedish medical technology group predicted slight growth in organic sales in 2018, although shares tumbled more than 8 percent after the earnings miss.
Heavy hitters
In Asia, stocks extended their bull run amid a flurry of upbeat corporate earnings and robust economic growth data. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, added 0.4 percent and appeared on course to notch a twelfth consecutive session of gains.
Stateside, Wall Street has also been on a tear. Since the start of earnings season, the overwhelming majority of companies in the S&P 500 to have reported their latest figures have beat analysts’ expectations, Reuters reported. Heavy hitters including the likes of Apple, Microsoft and Amazon are all scheduled to report this week.
Source: CNBC – European stocks edge lower amid earnings; Austria Microsystems surges 18%
