© Reuters. The German share price index DAX graph is pictured following the IPO of Porsche at the stock exchange in Frankfurt, Germany, October 25, 2022. REUTERS/Staff
(Reuters) – European stocks slipped from one-month highs on Wednesday, with technology stocks leading the losses as disappointing results from Wall Street giants and a warning from Dutch semiconductor supplier ASM added to concerns about slowing economic growth.
The pan-European index fell 0.2% by 0719 GMT. The index hit more than a one-month high in the previous session on hopes that the U.S. Federal Reserve could slow its pace of interest rate hikes.
Technology stocks were the biggest decliners, down 1.7%, after downbeat results from Wall Street tech giants including Microsoft Corp (NASDAQ:) and Alphabet (NASDAQ:) Inc. [.N]
Further, ASM International (OTC:) tumbled 8.7%, after the company said it expected new U.S. export restrictions to weigh heavily on its sales in China.
Heineken (OTC:) NV slid 7.0% after the world’s second-largest brewery reported a lower-than-expected rise in beer sales during the third quarter.
Mercedes-Benz slipped 0.7%, despite the German luxury carmaker raising its margin forecast for its cars division.
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