European shares dip for second session as Nokia loses more than 9%

European stocks fell on Thursday morning to continue their losses for the second session in a row, on corrections and profit-taking from their highest level in eight months, in addition to the renewed concerns of a global economic slowdown after weak data in Germany and South Korea. while Nokia's index fell by more than 9% After the announcement of unexpected losses during the first quarter of this year.

As of 10:59 GMT, Stoxx Europe 600 shed more than 0.3%, as the index ended yesterday's session down 0.1%, the first loss in the last nine sessions, on correction and profit taking activity.

The index fell on Thursday morning to continue its decline for the second day in a row, with corrections continuing from an eight-month high, with most of the major bourses and sectors in the negative zone.

The global economic slowdown concerns have been renewed by weak data on Germany's business climate, and after the South Korean economy grew less-than-expected in the first quarter of 2019, while several major global banks and companies reported weak business results in the first quarter of this year.

Nokia's index lost more than 9% after the Finnish mobile phone giant reported unexpected losses in the first quarter of this year, claiming it's due to heavy competition in the core network industry.

Additionally, Barclays also fell 2%, as the British Bank reported a 10% drop in first-quarter earnings, owing it to the tough market conditions and the continued concerns over Britain's withdrawal of the European Union "Brexit."

The S&P 500 futures fell 0.1%. as the index ended yesterday's session down by more than 0.2%, the first loss in the last four sessions, with correction activity and profit-taking from a six-month high.

Euro Stoxx 50 fell 0.35%. as in France, the CAC 40 index fell 0.3%. while London's FTSE 100 lost 0.3%.

In Germany, DAX 30 fell 0.15%, to head for its first loss in the last 10 sessions, down from a six-and-a-half-month high recorded yesterday, as the correction and profit-taking activity accelerated.