European stocks hover near 3-week low, Dialog and BHP slump

miércoles 4 de mayo de 2016 03:22 GYT
 

LONDON May 4 (Reuters) - European stocks hovered near a three-week low on Wednesday, with shares in Dialog Semiconductor and BHP Billiton among the worst performers.

The pan-European FTSEurofirst 300 index, which had fallen 1.7 percent in the previous session to a three-week low, was flat.

Dialog shares slumped 9 percent after the maker of chips used in Apple and Samsung Electronics smartphones reported a 58-percent drop in underlying operating profit.

Mining stocks such as BHP Billiton fell as weak copper prices impacted the sector.

However, BHP underperformed its peers to decline by 6 percent after federal prosecutors in Brazil filed a 155 billion-real ($43.5 billion) civil lawsuit on Tuesday against iron miner Samarco and its owners - Vale and BHP - over the fatal collapse of a dam last November.

French bank Societe Generale rose 3.6 percent after pledging further cost cuts this year, with the rise in SocGen shares also lifting up the stocks of its rivals BNP Paribas and Credit Agricole. (Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)