{"id":30822,"date":"2023-02-03T08:58:55","date_gmt":"2023-02-03T08:58:55","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/02\/03\/european-shares-decline-on-disappointing-us-tech-earnings\/"},"modified":"2023-02-03T08:58:55","modified_gmt":"2023-02-03T08:58:55","slug":"european-shares-decline-on-disappointing-us-tech-earnings","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/02\/03\/european-shares-decline-on-disappointing-us-tech-earnings\/","title":{"rendered":"European Shares Decline On Disappointing US Tech Earnings"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n
\n

European stocks declined on Friday, as investors digested key tech earnings released after the U.S. market close on Thursday and awaited the all-important U.S. jobs data due later in the day.<\/p>\n

Investors also awaited final January PMI (purchasing managers’ index) readings from the region and December producer price figures for directional cues.<\/p>\n

The pan European STOXX 600 dropped 0.6 percent to 456.68 after climbing 1.4 percent in the previous session on hopes that the global rate hiking cycle would end soon. <\/p>\n

The German DAX lost 1 percent and France’s CAC 40 index shed 0.7 percent while the U.K.’s FTSE 100 was marginally higher. <\/p>\n

Tech stocks were moving lower, with Infineon falling nearly 2 percent.<\/p>\n

French drug major Sanofi slumped 4.5 percent. The company expects business<\/span> earnings per share to grow low single digit at CER in fiscal 2023, barring unforeseen major adverse events.<\/p>\n

TomTom NV jumped 8 percent after narrowing its fourth-quarter net loss. <\/p>\n

Asian markets<\/span> ended mixed earlier in the day despite data showing that China’s services sector activity expanded for the first time in five months in January.<\/p>\n

U.S. stock futures retreated after Apple, Google parent Alphabet and Amazon all reported disappointing financial results. <\/p>\n<\/p>\n<\/div><\/div>\n