European stocks decline in front of economic news; Avast surges

European stocks fell in early trading on Wednesday ahead of critical corporate growth numbers, as global markets pondered the potential implications of House Speaker Nancy Pelosi’s travel to Taiwan.

European stocks declined in early trade on Wednesday ahead of crucial statistics on corporate growth, as global markets pondered the possible impact of U.S. House Speaker Nancy Pelosi’s trip to Taiwan.

At 7:10 GMT, the STOXX 600 index declined 0.2 percent.

Amidst worries of a recession, investors are expecting important statistics on company growth and services in the euro zone to measure the continent’s economic health.

After predicting a highly turbulent second half, shares of luxury automaker BMW fell 5.5%.

Strong earnings results from other firms limited trading day losses.

Infineon (OTC:IFNNY), the largest provider of microchips to the automotive sector, announced a 33 percent year-over-year growth in quarterly sales and raised its full-year projection.

Britain’s competition commission has conditionally approved the $8.6 billion acquisition of competitor Avast by NortonLifeLock (NASDAQ:NLOK). Avast’s shares on the London Stock Exchange increased by 42.4%.

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