Salem Radio Network News Friday, November 26, 2021


European stocks inch up as tech gains offset losses in Ericsson

(Reuters) – European stocks inched higher on Tuesday as technology shares rose, mirroring overnight gains in their Wall Street peers and offsetting losses in Sweden’s Ericsson and healthcare companies.

The pan-European STOXX 600 rose 0.1% by 0708 GMT, with technology stocks up 0.7%.

Telecom equipment maker Ericsson fell 3% as a hit from global supply chain problems overshadowed stronger-than-expected third-quarter core earnings, while French food group Danone slipped 1.3% after recording rising costs and slower sales growth in the third quarter.

Swedish telecoms operator Tele2 was down 2.3% after posting quarterly core earnings in line with market expectations.

(Reporting by Anisha Sircar and Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)


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