Tech, oil slump sends European shares to two-month low

LONDON, June 28 (Reuters) – A slump among technology stocks
after a global cyber attack added to depressed crude prices to
cast a cloud over European shares on Wednesday, sending them to
their lowest in two months.

The pan-European STOXX 600 hit its lowest since
April 24 in early deals, down 0.7 percent, in step with euro
zone stocks and blue-chips.

Technology stocks fell 1.2 percent to a two-week
low, the worst performer with every stock on the index in the
red, hit by jitters after a ransomware attack swept the globe,
disrupting computers at banks and large companies including WPP
, Moeller Maersk and Metro.

Semiconductor makers AMS, Dialog Semiconductor
, ASM International and STMicro were
among the worst performers.

Lower oil prices weighed on oil and gas stocks, with
Tullow Oil the biggest faller after its first-half
results.

Meanwhile, positive results and acquisitions drove the
handful of gainers.

Business supplies distributor Bunzl rose 4 percent
after saying a boost in recent acquisitions would help it
increase first-half revenue 7 percent.

French industrial group Legrand rose 2.8 percent
after saying it would buy U.S. infrastructure company Milestone.
(Reporting by Helen Reid, editing by Ed Osmond)


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