European Shares Subdued As Tech Stocks Decline After AMD Earnings

(RTTNews) - European shares were slightly lower on Wednesday as tech stocks declined, offsetting gains in the healthcare and financial sectors.

In economic news, private sector activity in the euro area rose in January, S&P Global said in a report. The composite Purchasing Managers' Index (PMI) inched up to 50.2 from 49.6 in December.

The pan European STOXX 600 was down 0.1 percent at 535.45 after closing up 0.2 percent on Tuesday.

The German DAX dipped half a percent, France's CAC 40 shed 0.3 percent and the U.K.'s FTSE 100 was marginally lower.

Chip equipment maker ASML fell 1.1 percent and Infineon Technologies was down 0.9 percent after Advanced Micro Devices reported 2024 date center sales that fell short of expectations.

U.K.-based publishing company Future Plc rose more than 2 percent in London after backing guidance for FY25.

GSK soared more than 6 percent. The pharmaceutical giant reported robust 2024 performance and lifted its long-term sales outlook.

Wind turbine maker Vestas fell 2.5 percent as it warned of ongoing uncertainty for 2025.

French oil major TotalEnergies rose 1.3 percent. The company raised dividend and maintained the pace of share buybacks despite reporting a drop in fourth-quarter earnings.

Lender Credit Agricole gained 2.1 percent as it reported better-than-expected earnings on higher revenue in the final quarter of 2024.

Spanish lender Banco Santander jumped 7.3 percent after attributable 2024 profit rose 14 percent from last year.

Danish jewelry maker Pandora declined 1.5 percent after cautioning that organic growth this year would be lower than last.

Pharmaceutical behemoth Novo Nordisk surged nearly 4 percent after Q4 earnings topped expectations.