Dpia 100 250 Word Essay My Favourite Flower Rose Essay Kids America And Me Hero Essay Examples Consortium Essay

Europe Markets: European stocks led lower by techs, on rate concerns and Atos warning

This post was originally published on this site

European stocks dropped on Monday, with tech companies leading a downward slide on worries about rising interest rates.

The Stoxx Europe 600
SXXP,
-0.86%

dropped 0.7%, weakening as U.S. stock futures
ES00,
-0.69%

headed lower ahead of the market open. Markets are girding for aggressive action this year from the Federal Reserve to cool off the world’s largest economy.

Technology companies
SX8P,
-2.46%

including ASML
ASML,
-4.51%
,
the big microchip equipment maker, were the worst performing sector.

Atos
ATO,
-17.67%

shares skidded 17% as the French IT services firm warned of worse margins than it previously forecast. Free cash flow is expected to be €-420 million, ahead of a previous estimate it would be positive. CEO Rodolphe Belmer, who only started last week, said the factors that weighed on its performance were “non-recurring.”

Molecular Partners
MOLN,
+26.84%

jumped 27% in Switzerland after a Phase 2 trial showed its COVID-19 treatment reduced hospitalization, as Novartis
NOVN,
+0.35%

exercised a right to commercialize the drug. Novartis will pay 150 million francs ($162 million) to Molecular Partners for the licensing, as well as “significant” royalties on any sales.

Add Comment