FINANCIALS DRAG; FOOD, TOBACCO AND DRUGS GIVE SUPPORT
European shares opened slightly weaker on Wednesday, though selling pressure eased after four straight sessions of heavy losses driven by concerns over lofty tech valuations ahead of Nvidia earnings after today’s Wall Street close.
Financials were the biggest drag, with the banks index (.SX7P) hitting a fresh 3-week low, last down 0.6% after Tuesday’s 2.8% drop.
Consumer staples attracted some demand, likely on their defensive appeal, with food group Nestle NESN, British American Tobacco BATS, Unilever
ULVR and drugmaker Roche
RO edging higher. Oil & gas stocks (.SXEP) also outperformed.
The broader STOXX 600 SXXP was last down 0.1%, while some national indices managed to trade above par.