LIVE MARKETS-Financials drag; food, tobacco and drugs lend support
European shares opened weaker, with financials dragging the market down. The banks index hit a 3-week low, while consumer staples like Nestle and British American Tobacco provided support. STOXX 600 fell 0.1%. Markets await Nvidia's earnings.
STOXX 600 down 0.1%
Nvidia awaited
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FINANCIALS DRAG; FOOD, TOBACCO AND DRUGS GIVE SUPPORT
European shares opened slightly weaker on Wednesday, though selling pressure eased after four straight sessions of heavy losses driven by concerns over lofty tech valuations ahead of Nvidia earnings after today’s Wall Street close.
Financials were the biggest drag, with the banks index (.SX7P) hitting a fresh 3-week low, last down 0.6% after Tuesday’s 2.8% drop.
Consumer staples attracted some demand, likely on their defensive appeal, with food group Nestle (NESN.S) , British American Tobacco (BATS.L) , Unilever (ULVR.L) and drugmaker Roche (ROG.S) edging higher. Oil & gas stocks (.SXEP) also outperformed.
The broader STOXX 600 (.STOXX) was last down 0.1%, while some national indices managed to trade above par.
(Danilo Masoni)
EARLIER ON LIVE MARKETS: BEFORE THE BELL: TENTATIVE STABILISATION, AWAITING NVIDIA CLICK HERE HUSH FALLS OVER MARKETS AHEAD OF NVIDIA CLICK HERE
Nvidia dominates S&P 500
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