INSUBCONTINENT EXCLUSIVE:
LONDON: European shares slipped on Wednesday as worries over global trade persisted, with sentiment souring around semiconductor stocks in
particular after US peer Micron was banned from selling chips in China.
The pan-European STOXX 600 index was down 0.2 per cent by 0723 GMT,
while Germany's exporter-heavy DAX also declined 0.2 per cent and the FTSE 100 fell 0.3 per cent.
Trading has been choppy ahead of a July 6
deadline when the United States is set to impose tariffs on $34 billion worth of goods from China.
Twists and turns in the tit-for-tat saga
have hit market sentiment in recent weeks, with news a Chinese court temporarily banned Micron Technology from selling chips in China, the
world's biggest memory chip market, hitting shares in US and Asian semiconductor stocks.
Europe's tech sector was led 0.5 per cent lower by
falls in chipmakers STMicro and Infineon, which were both down around 2 per cent.
Recent guidance cuts from BE Semiconductor and Osram Licht
have also weighed on sentiment around the sector, which has fallen more than 8 per cent since June's 17-year high.
Smaller Swiss stock
Comet, whose business focuses on x-ray and radio frequency technology, issued a sales and profit warning for 2018 and saw its shares plunge
9.5 per cent.
Elsewhere a 1.9 per cent fall in Compass Group's shares weighed on European travel and leisure stocks, after the catering firm
said its finance chief was to leave the company by the end of the year, the second key executive change at Compass this year
