Musk threatens Apple with legal action over App Store bias towards OpenAI
(Corrects milestone in the first paragraph to show European
shares logged their worst slide in two months last week, not one
year. Corrects to say the STOXX 600 fell about 3% last week, not
4%, in second paragraph.)
Oct 7 (Reuters) - European shares dipped on Monday,
extending losses from their sharpest weekly slide in two months,
as weak data on German industrial orders underscored concerns of
a looming recession in the country while investors were on edge
ahead of crucial trade talks between the U.S. and China this
week.
By 0710 GMT, the pan-European STOXX 600 index .STOXX was
down 0.1%, after it tumbled 3% last week on tensions over
transatlantic trade wars and a clutch of weak U.S. and European
data.
Germany's DAX .GDAXI declined 0.2% after data showed
German industrial orders fell slightly more than expected in
August. A report that said China officials are increasingly
reluctant to agree to a broad trade deal with the United States,
kept investors nervous ahead of the trade negotiations starting
on Thursday. Trade-sensitive automakers .SXAP dropped 1%, leading
declines among major sectors.
London-listed shares of HSBC Holdings Plc HSBA.L fell 0.7%
after a report over the weekend said the banking group was
planning to cut up to 10,000 jobs to lower costs. Austria's AMS AMS.S rose 3.5% after the company said it
failed in its 4.5 billion euro ($4.9 billion) takeover attempt
of German lighting group Osram OSRn.DE . Osram was the biggest
decliner on the STOXX 600, down 4%.