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June 25 (Reuters) - European shares opened lower on
Tuesday, as industrial stocks came under pressure following
Airbus's dour update, while technology shares slumped tracking
an overnight selloff on Wall Street.
The continent-wide STOXX 600 fell 0.3% by 0707 GMT,
with Airbus, dropping 8.4%, being among the biggest
drag on the index, after Europe's largest aerospace group cut
industrial and financial targets, and took a hefty 900 million
euro ($965 million) charge for its troubled space activities.
The industrial goods and services sector dropped
1.5% early on.
The tech sub-index, which houses some of Europe's
biggest chip-related firms, dropped 1.5% tracking overnight
weakness in U.S. bellwether Nvidia ( NVDA ).
Germany's Merck shed 8.7%, after the drug maker
said it has stopped its trials for xevinapant in advanced head
and neck cancer.
The market's focus would remain on the first round of French
parliamentary elections later in the week, with Paris stock
market operator Euronext's CEO stating that the prospect of a
politically extreme party with little or no government
experience reaching power is worrying investors.