Monday, October 7, 2024
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London

Tech sector leads European shares up 1%

Stock movements

The index went upStokes 600The European index was up 1.2 percent at 514.17 points by 07:08 GMT.

The index is on track for its best one-day performance in about a month if the gains continue.

The technology sub-index rose 2.6 percent, tracking tech companies in Asia.

The primary resources sub-index rose 2 percent after base metals prices rose, supported by hopes of a rate cut in US next week.

It is scheduled to be held European Central Bank The Fed meets at 1215 GMT on Thursday and is widely expected to cut interest rates by 25 basis points.

Roche shares fell 4.5 percent after the Swiss drugmaker said promising results from an early-stage trial of a weight-loss pill were based on just six patients.



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