LIVE MARKETS-STOXX takes a breather, helped by tech, defensives
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STOXX TAKES A BREATHER, HELPED BY TECH, DEFENSIVES
The pan‑European STOXX 600 .STOXX was up 0.4% in morning trading on Wednesday as regional equity markets took a breather after two days of intense selling pressure following the outbreak of war in Iran, now entering its fifth day.
Tech — recently hit by concerns over AI‑driven disruption to software companies’ business models — provided the biggest lift, supported by better‑than‑expected results from ASMI ASMI.AS, the world’s second‑largest chip‑equipment maker.
Defensive sectors such as utilities and healthcare, along with gains in some consumer‑staples stocks, also helped.
Banks .SX7P lagged, down 0.5%, while energy stocks .SXEP were also lower after surging on Monday to a record high as disruption to tanker traffic across the Strait of Hormuz sent oil and gas prices soaring.
In Madrid, the IBEX .IBEX fell further after U.S. President Donald Trump threatened to impose a trade embargo on the country following Madrid’s refusal to allow the U.S. military to use its bases for missions linked to strikes on Iran.
(Danilo Masoni)
EARLIER ON LIVE MARKETS:
EUROPE BEFORE THE BELL: TENTATIVE STABILISATION, SPAIN DOWN CLICK HERE
STOCKS DUMP MORE ON OIL SHOCK FEARS CLICK HERE
