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Tech, oil slump sends European shares to two-month low
June 28, 2017 / 7:32 AM / a month ago

Tech, oil slump sends European shares to two-month low

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Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, May 8, 2017.Pawel Kopczynski

LONDON (Reuters) - A slump among technology stocks after a global cyber attack added to depressed crude prices to cast a cloud over European shares on Wednesday, sending them to their lowest in two months.

The pan-European STOXX 600 hit its lowest since April 24 in early deals, down 0.7 percent, in step with euro zone stocks .STOXXE and blue-chips .STOXX50E.

Technology stocks .SX8P fell 1.2 percent to a two-week low, the worst performer with every stock on the index in the red, hit by jitters after a ransomware attack swept the globe, disrupting computers at banks and large companies including WPP (WPP.L), Moeller Maersk (MAERSKb.CO) and Metro MEOG.DE.

Semiconductor makers AMS (AMS.S), Dialog Semiconductor (DLGS.DE), ASM International (ASMI.AS) and STMicro (STM.MI) were among the worst performers.

Lower oil prices weighed on oil and gas stocks .SXEP, with Tullow Oil (TLW.L) the biggest faller after its first-half results.

Meanwhile, positive results and acquisitions drove the handful of gainers.

Business supplies distributor Bunzl (BNZL.L) rose 4 percent after saying a boost in recent acquisitions would help it increase first-half revenue 7 percent.

French industrial group Legrand (LEGD.PA) rose 2.8 percent after saying it would buy U.S. infrastructure company Milestone.

Reporting by Helen Reid, editing by Ed Osmond

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