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European shares dip as lower commodity prices weigh
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European shares dip as lower commodity prices weigh
Jul 19, 2024 5:32 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

July 19 (Reuters) - European shares fell on Friday and

were set for weekly losses, hurt by lower commodity prices and

as a rout in global technology shares extended, while investors

assessed more earnings updates.

The pan-European STOXX 600 index fell 0.6% by 0715

GMT, slipping to a more than two-week low, amid a broader

selloff across sectors.

Travel and leisure shares led the losses with a 2.5%

drop, driven by declines in Evolution after it

maintained its full year guidance, while miners were

down 1.8% on lower commodity prices due to the lack of Chinese

stimulus measures.

German shares were down 0.6% after producer prices

in the regions largest economy fell by 1.6% on the year in June,

in line with analysts' expectations in a Reuters poll.

Sartorius was down 13.6% after the pharmaceutical

equipment supplier cut its full-year guidance.

On the flip side, Danske Bank ( DNSKF ), Denmark's biggest

lender, surged 6.2% as it beat second-quarter net profit

expectations, helped by strong credit quality and higher net

interest income and announced an interim dividend for

shareholders.

Electrolux climbed 6.9% after the world's

second-biggest appliances maker posted a quarterly operating

profit above estimates, helped by cost cutting.

(Reporting by Shubham Batra; Editing by Mrigank Dhaniwala)

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