Live Markets: Europe before the bell: Region set to avoid worst of chip selloff
LIVE MARKETS-Europe before the bell: Region set to avoid worst of chip selloff Adds new blog entry
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
EUROPE BEFORE THE BELL: REGION SET TO AVOID WORST OF CHIP SELLOFF
European stock index futures are mixed on Tuesday, as markets in the region look to avoid the worst of carnage in the semiconductor space that rippled through Asia-Pacific markets overnight.
A few factors drove the selloff, including more concerns about AI infrastructure financing and rising competition from China. South Korea's Kospi .KS11 slid as much as 11%, stock indexes in Japan .N225 and Taiwan .TWII dropped by at least 4%.
But things are looking brighter for Europe.
Euro STOXX 50 futures STXEc1 are down just 0.1%, with European share markets less sensitive to a tech-hardware selloff due to the sector's lower weighting in major indexes. A second daily decline in oil prices LCOc1 may also be helping.
DAX FDXc1 and FTSE FFic1 futures are little changed, CAC futures FCEc1 are inching higher.
Earnings are continuing to roll in on what is the busiest week for European reporting, with about 40% of the STOXX 600 market cap issuing earnings this week.
Unilever ULVR.L, Barclays BARC.L, LVMH LVMH.PA, Philips PHG.AS and Michelin MICP.PA are among the companies that have reported results since yesterday's close.
(Samuel Indyk)
*****
EARLIER ON LIVE MARKETS:
CHIPS JOLTED AS MOMENTUM SHIFTS IN AI CLICK HERE
Recent news on Unilever
See all newsUK Stocks-Factors to watch on October 20 (updated)
UK Stocks-Factors to watch on October 20
Unilever to sell Welly bandage brand to Forward Consumer Partners (updated)
Brief: Forward Consumer Partners On Welly Deal Says Eric Ryan Will Return To Business As Strategic Advisor & Member Of Board
Unilever to sell Welly bandage brand to Forward Consumer Partners