European shares open lower on weak tech, banks rise on merger talks

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Sept 4 (Reuters) - European shares opened lower on Friday as a technology-fueled rout from the prior session continued, while bank stocks were supported by merger talks between major Spanish lenders.

The pan-European STOXX 600 index fell 0.9% in early trade after marking its worst session in more than a month on Thursday. It was set to lose 0.8% for the week.

Technology shares led early losses after posting their worst session in more than four months on Thursday.

Losses in U.S. tech stocks had spread over to other sectors and markets, with Asia also marking a weak morning session. Investors were now waiting for U.S. payroll data expected later in the day to gauge the pace of the country’s economic recovery.

In corporate news, Spanish banks Bankia and Caixabank rose after they said they were considering a merger to create the biggest lender in Spain. (Reporting by Ambar Warrick in Bengaluru; Editing by Shailesh Kuber)


Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and at All opinions expressed are those of the authors.