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Europe stocks close lower as Apple warns of coronavirus revenue hit


Tuesday, 18 February 2020 23:49 WIB

Saham Eropa


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European stocks closed lower on Tuesday after Apple warned it may fall short of revenue forecasts on the back of the coronavirus outbreak, as fears over the potential economic fallout persist.

The pan-European Stoxx 600 closed provisionally down by around 0.5%, with most sectors and major bourses in the red. Basic resources stocks shed 2.1% to lead losses while telecoms shares bucked the trend to climb 1.1%.

Tech giant Apple on Monday warned that it does not expect to meet its second-quarter revenue forecast due to lower global iPhone supply and weakened Chinese demand and production as a result of the coronavirus outbreak.

Source: CNBC


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