Chipmakers help European shares buck macro gloom
Published by
Reuters UK
Reuters UK
By Sruthi Shankar (Reuters) -European stocks steadied on Thursday after their worst two-day selloff since March, as investors balanced concerns over the U.S. debt ceiling standoff and a global economic slowdown with optimism from upbeat corporate earnings. The pan-European STOXX 600 index added 0.1% after shedding about 2.5% in the past two days, triggered by a selloff in luxury stocks and lack of progress in talks to raise the U.S. debt ceiling and avert a default. Ratings agency Fitch put the United States’ credit on watch for a possible downgrade on Wednesday. “The moves in the market in th…