Published Wed, Oct 14, 2026 · 05:57 AM
[BENGALURU] Europe’s Stoxx 600 ended marginally lower on Tuesday (Oct 13), retreating from a one-week high, after a sharp sell-off in chip stocks overshadowed optimism from lower oil prices.
The pan-European benchmark dipped 0.1 per cent to 635.01 points at the close. London’s FTSE 100 fell 0.06 per cent, while Germany’s DAX and France’s CAC 40 were down 0.07 per cent each.
The decline snaps a two-day winning streak for the Stoxx 600 and shows how sensitive investors remain to shifts in artificial intelligence sentiment.
Reports that China’s CXMT had made some progress on chip design stoked competition fears and weighed on chip stocks globally.
“The news also provided investors with an excuse to cut their exposure to AI-adjacent companies,” said David Morrison, senior market analyst at Trade Nation.
Computer chip equipment maker ASM International fell 6.3 per cent and was the biggest laggard on the Stoxx 600. French chip materials maker Soitec slipped about 6 per cent.
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Oil prices fell, providing some relief as traders assessed supply risks following attacks on Saudi Arabia and weighed the prospect of additional diesel supplies from Russia.
However, the Middle East conflict has stoked inflation fears in the energy-importing region and dimmed the appeal of riskier equities.
“European equities are caught between resilient corporate earnings and rising borrowing costs,” Lauren Hyslop, investment manager at Mattioli Woods, said.
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The chemicals sector climbed 2 per cent to lead sectoral gains, while the aerospace and defence index slipped 1.7 per cent. Technology stocks lost 1.6 per cent.
Luxury stocks fell 0.6 per cent after LVMH, the world’s largest luxury group, posted weaker-than-expected third-quarter sales, as deteriorating consumer sentiment in China weighed on demand for its Louis Vuitton and Dior brands.
Givaudan added 9.4 per cent after the fragrance and flavour maker’s third quarter organic sales beat expectations.
Among other stocks, Nokia fell 3.1 per cent after the Finnish telecom gear maker agreed to sell its Enterprise Campus Edge business to private equity group Aurelius.
On Tuesday, British recruiter Michael Page returned to profit growth after four years of declines. Bellway warned of lower home sales this fiscal year on rising mortgage rates and cost pressures.
Shares of the two companies closed nearly 1 per cent and 1.5 per cent lower, respectively.
The earnings season will pick up pace on Wednesday when ASML reports. REUTERS