Tech Put Pressure on European Shares And BP Jumps

Technology shares and concerns about the spread of a global delta dynasty continued to pressure European shares on Tuesday, despite encouraging results updates from companies including BP and automaker Stellantis.

The pan-European Stoxx 600 index fell 0.1%, after hitting a record high in the previous session. Most Asian stocks also fell with the outbreak of the delta strain in major markets.

Technology shares were the biggest loser, after German chipmaker, Infineon Technologies fell 4.7%, as it said it was experiencing a severe shortage in the market.

BP shares rose about 3.5%, after the international oil company raised its dividend and intensified share buybacks following a second-quarter profit increase to $2.8 billion.

Shares in Stellantis rose 3.9% after the automaker raised its full-year target for its adjusted operating profit margin.