European shares fell on Friday, with semiconductor shares leading the decline following tepid expectations from US chipmaker Micron, while investors awaited euro zone inflation data to build their expectations regarding the pace of interest rate hikes.
The shares of the Dutch company (ASML) for semiconductor equipment, the French-Italian chip maker ST Microelectronics, and the German chip maker Infineon fell by 3.1% to 4.1%, following Micron announced the Much weaker than expected outlook for its business.
The pan-European STOXX 600 index fell 0.8% by 07:09 GMT, a day following it recorded its worst quarterly performance since the big drop due to the Corona pandemic in early 2020, and followed in the footsteps of a bleak session for Wall Street, which fell due to data that exacerbated fears regarding a recession.
The mining and oil and gas sector indices decreased by 0.3%, each with lower commodity prices due to concerns regarding demand.
Eurozone preliminary June CPI estimates are due at 09:00 GMT, and inflation is likely to accelerate to a record 8.4 percent from 8.1 percent in May.
Sodexo rose 2.3%, following the French group for meal and food supply services reported good third-quarter revenue, citing strong growth in all business sectors and geographies.
