January 23, 2019 / 8:45 AM / 6 months ago

European shares dip as Ingenico, Metrobank add to macro gloom

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LONDON, Jan 23 (Reuters) - European shares retreated on Wednesday morning as a new batch of corporate updates prompted fresh concerns, particularly on the tech sector, and added to worries about a global growth slowdown and the Sino-U.S. trade negotiations.

At 0819 GMT, the STOXX 600 was down 0.5 percent, with bourses all across Europe losing ground and a number of steep individual falls at the open.

A profit warning by Ingenico sent the French payment group down over 12 percent and hit the whole European tech sector, which retreated 0.9 percent.

Still in the sector, ASML Holding NV, a major supplier to the world’s largest computer chipmakers, fuelled more concerns and caution among investors as it warned first-quarter sales would be weak, with some of its customers delaying orders into the second half of 2019.

A profit miss by Metro Bank triggered a spectacular 27 percent fall and gave no respite to a banking sector already weakened during the previous session by Swiss bank UBS’s fourth-quarter earnings report.

European retailers were in a much more comfortable spot and trading in the black after supermarket groups Carrefour and Ahold Delhaize posted their trading update and gained 5.4 percent and 2.9 percent respectively. (Reporting by Julien Ponthus; Editing by Catherine Evans)

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