August 3, 2021

(Reuters) – Declines in technology stocks and worries over the global spread of the Delta variant of the coronavirus kept European stocks under pressure on Tuesday, despite encouraging earnings update from companies, including oil major BP and carmaker Stellantis.

By 0710 GMT, the region-wide STOXX 600 index slipped 0.1% after hitting a record high in the previous session. Asian stocks were also mostly lower as the Delta variant spread in key markets. [MKTS/GLOB]

Chinese officials took aim at video game producers once again, knocking shares of Dutch firm Prosus, which has a stake in Chinese tech giant Tencent, by 5.0%.

Tech stocks were the biggest drag after German chipmaker Infineon Technologies fell 4.7% as it said it was battling extreme tightness in its markets.

Oil major BP rose 3.5% as it lifted its dividend and ramped up share buybacks after second-quarter profit rose to $2.8 billion.

Carmaker Stellantis climbed up 3.9% after it raised its full-year target on its adjusted operating profit margin.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

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