European tech down as US giants post downbeat results, ASMI orders hit by US China curbs

Osram Licht AG

26/10/2022 09:18

** European technology stocks  .SX8P  slide 1%, the biggest
decliner in Europe, after downbeat results from Wall Street tech
giants including Microsoft Corp  MSFT.O  and Alphabet Inc
 GOOGL.O 
    ** Losses are led by semiconductor supplier ASMI  ASMI.AS ,
down 7% after it warned the new U.S. export restrictions will
affect more than 40% of its sales in China
    ** It is followed by Logitech  LOGN.S  and Dassault Systemes
 DAST.PA  that both fall around 3%
    ** ASMI's Dutch peers ASML  ASML.AS  and BESI  BESI.AS  drop
around 2%, while European chip stocks STMicroelectronics
 STM.MI / STM.PA , Siltronic  WAFGn.DE , Nordic Semiconductor
 NOD.OL , Aixtron  AIXGn.DE , Infineon  IFXGn.DE , VAT Group
 VACN.S , AMS Osram  AMS.VI  all slide around 1-2%
 (Reporting by Milla Nissi)
 ((milla.nissi@tr.com))