European markets edge lower amid concern over corporate earnings; Safran shares slip 2%

KEY POINTS

  • The pan-European Stoxx 600 edged down around 0.2 percent shortly after the opening bell, with most sectors and major bourses in negative territory.
  • Market focus is largely attuned to corporate results, with major U.S. banks set to get the ball rolling later in the week.
  • The pan-European Stoxx 600 edged down around 0.2 percent shortly after the opening bell, with most sectors and major bourses in negative territory.

Europe’s technology stocks led the losses during early morning deals, with Germany’s SAP among the sector’s worst performers. Europe’s most valuable tech firm reported over the weekend that the head of its cloud business group had quit, marking the latest in a string of top departures at the firm. Shares of SAP slipped around 1.5 percent.

Looking at individual stocks, France’s Euronext surged toward the top of the benchmark during morning trade. It comes after Norway’s Financial Supervisory Authority concluded Nasdaq and Euronext would both be “fit and proper” owners of Norwegian stock market operator Oslo Bors VPS, Reuters reported. Shares of the Paris-listed stock rose over 1 percent.

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