The tobacco and technology sectors are leading European actions


LONDON (Reuters) – European shares fell on Monday as technology fell while the tobacco sector was hit by new signs that regulators in the United States are tightening control over menthol cigarettes.

The European Stoxx 600 fell 1 percent, reducing initial gains, and Italy's main index fell 1 percent ahead of Rome's deadline for a revised version of the budget on Tuesday.

The technology was the biggest loser, with decrease of 3.7%.

Infineon, maker of chips and SIP, fell to the German DAX fund, down 7.8% and 5.6%, respectively.

Infinon's decline came despite better-than-expected results for the full year amid renewed concerns about slowing demand after disappointing sales forecasts from Qualcomm and Apple.

SAP, a software specialist, has announced the acquisition of Qualtex, which specializes in monitoring customer sentiment at $ 8 billion, which analysts and price analysts consider too high.

Tobacco stocks have been hit by a Wall Street Journal report that the US Food and Drug Administration is planning to push ahead with a ban on the use of menthol cigarettes.

Among the highest sectors were the oil sector, which gained 0.1 percent after oil prices rose after Saudi Arabia's announcement of a cut in supply in December, while other producers are looking at a reduction in imports in 2019.



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