European shares edge lower, tech stocks drag after Nvidia's disappointing forecast

Reuters11-21
European shares edge lower, tech stocks drag after Nvidia's disappointing forecast

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Nov 21 (Reuters) - Europe's main stock index slipped on Thursday, as market sentiment was tepid with geopolitical tensions boosting some safe-haven bids, while chip shares were the biggest drag after sector bellwether Nvidia's disappointing revenue forecast.

The pan-European STOXX 600 index .STOXX edged down 0.1%, as of 0820 GMT, on track for its fifth straight session of declines amid uncertainties around the escalating Ukraine-Russia conflict and the likely domestic impacts of Donald Trump's U.S. Presidential victory.

Safe-haven bids Gold XAU= and Swiss franc CHF= were up, while the dollar =USD was subdued in anticipation of more clarity on Trump's proposed policies and prospects of less aggressive U.S. interest rate cuts.

Shares of chip makers ASML ASML.AS, Infineon IFXGn.DE and ASM International ASMI.AS slipped, after AI chip leader and world's largest company by market value Nvidia NVDA.O forecast its slowest revenue growth in seven quarters.

However, Soitec SOIT.PA jumped 14%, after the French semiconductor materials supplier's half-year results, limiting the tech sector's .SX8P losses.

Personal and household goods .SXQP, retail .SXRP and autos .SXAP were the worst-hit sectors, down between 0.8% and 1.0%.

CTS Eventim EVDG.DE fell 8% following the German ticketing group's nine-month results, while JD Sports Fashion JD.L slumped 13%, after the sportswear retailer warned that its annual profit would come in at the lower end of its guided range.

Halma HLMA.L was up 9%, after the health and safety device maker reported its half-year results.

(Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi Aich)

((Ankika.Biswas@thomsonreuters.com;))

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