Brussels, July 01 (QNA) - European stocks closed lower Wednesday as investors assessed signs that US interest rates may remain elevated for longer, alongside progress in talks between the United States and Iran.
The STOXX Europe 600 closed down 0.38 percent, while technology stocks fell 1.2 percent. Shares of ASML, the chipmaking equipment manufacturer, declined 4.6 percent, while shares of Soitec, which specializes in semiconductors, posted a slight decline. Schneider Electric shares fell 3.1 percent after the AI equipment manufacturer announced an agreement to acquire Cognite, a privately held company specializing in artificial intelligence software and industrial data, for $3.1 billion in an all-cash transaction.
Shares of Associated British Foods, the owner of Primark, dropped 3.2 percent after the company said it still expects its annual profit to come in below last year's result. Shares of Swedish defense equipment manufacturer Saab rose 3.3 percent after it signed a contract to deliver 16 Gripen E fighter aircraft to Ukraine in a deal worth approximately 24.6 billion Swedish kronor ($2.54 billion). (QNA)