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European Stocks Decline at Close of Trading

Economy

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Brussels, April 22 (QNA) – European stocks declined at the close of trading Wednesday, extending their losses for the third consecutive session.

The pan-European Stoxx 600 index closed down 0.4 percent at 613.88 points. Germany's DAX index fell 0.3 percent, and France's CAC 40 index dropped 1 percent.

In contrast, the energy sector jumped 2.3 percent, benefiting from rising oil prices.

The materials and technology sectors also rose, gaining 1.7 percent and 0.6 percent, respectively.

Shares of ASM International jumped 7.1 percent after the chip equipment manufacturer issued second-quarter revenue forecasts that exceeded market expectations.

Meanwhile, travel and leisure stocks fell 2.1 percent due to rising energy costs and geopolitical uncertainty, and aerospace and defense stocks lost 2.4 percent. (QNA)

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