BUZZ-European IT stocks fall as OpenAI launches corporate unit
Gartner IT | 0.00 | |
Accenture ACN | 0.00 | |
IBM Corp IBM | 0.00 | |
Wpp WPP | 0.00 | |
Cognizant Technology CTSH | 0.00 |
** Shares in European IT services companies track sharp declines in U.S. peers after OpenAI launches a $4 billion corporate unit and buys artificial intelligence consulting firm Tomoro, stoking fresh concerns about disruption in the sector
** IT services firms Capgemini CAPP.PA, Sopra Steria SOPR.PA, Adesso ADNGk.DE, Bechtle BC8G.DE and Cancom COKG.DE all fall more than 2%
** Software and advertising names also under pressure, with TeamViewer TMV.DE down 3.5%, SAP SAPG.DE down 2% and Planisware PLNW.PA off 3.4%, while advertisers Publicis PUBP.PA and WPP WPP.L fall 1.5% and 4% respectively
** Digital consulting firm Reply REY.MI slips over 2%, while information and education groups Wolters Kluwer WLSNc.AS, RELX REL.L and Pearson PSON.L lose 1–3%
** The losses follow a selloff in U.S. peers Cognizant CTSH.O, Accenture ACN.N, IBM IBM.N and Gartner IT.N, which ended the previous session down 2.8–4.4%