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Europe shares hit 1-month high; inflation data in focus -2-
Telecoms lead gains with Ericsson (Il Sole 24 Ore Radiocor) - Milan, 12 Jul - In European stock market dealings most sectors were higher, with telecoms shares leading the gains while tech stocks slid as they tracked their US peers lower.
Swedish telecom giant Ericsson shares rallied 2.68% after revenue declined less than expected in the second quarter.
Ericsson said that in the second quarter of 2024 it posted a net loss of 11.0 billion crowns, up from a loss of 0.6 billion a year earlier, after booking a non-cash impairment charge of 11.4 billion crowns primarily reflecting lower anticipated market growth rates in the portfolio of its US cloud communication subsidiary Vonage.
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(RADIOCOR) 12-07-24 13:42:25 (0323) 5 NNNN