Markets & Finance

Canada Shares Dip on Intel Outlook


Canada's benchmark S&P/TSX fell 20.28 points to 7,478.57. Intel's profit warning in the tech sector as well as losses in the gold mining group were a weight.

European markets ended lower, taking a cue from U.S. techs and the Intel news. In London, the Financial Times-Stock Exchange 100 index was down 37.20 points, or 0.75%, to 4,920.40, with little reaction to report that the UK CIPS Services Index rose too 56.7 in May from 54.5 in April.

In France, the CAC 40 lost 77.91 points, or 1.90%, to 4,020.27.

And in Germany, the DAX Index was lower by 47.34 points, or 1.02%, to 4,610.18. In addition to Intel, also contributing to the selling was a report that German unemployment rose in May for 15th month in 17. Plus, construction workers went on strike before taking a strike vote.

In Asia , the markets finished with losses. The Nikkei dropped 136.41 points, or 1.18%, to 11,438.53. The selling was led by technology stocks on earnings pessimism after U.S. chip giant Intel lowered its second quarter (April-June) sales estimate.

In Hong Kong, the market lost 96.06 points, or 0.84%, to 11,284.71.


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