Volkswagen dips, Saipem jumps; tech stocks track US peers higher (Il Sole 24 Ore Radiocor) - Milan, 26 Jun - In European stock market dealings most sectors were lower, with auto and travel shares among the biggest decliners while tech stocks rose after a tech-led rally on Wall Street overnight, with the Nasdaq Composite index bounced back from its worst day since April and tech darling Nvidia recouping sharp losses.

German car maker Volkswagen dropped 2.70% after it announced plans to invest around 5 billion dollars in US EV maker Rivian Automotive in a joint venture which will give it access to the start-up's technology.

Shares of Saipem jumped 4.11% in Milan trade, leading the gains on the MTSE MIB index, after analysts at the broker Jefferies confirmed a "buy" recommendation as they highlighted expectations the Italian energy and infrastructure engineering and construction company would report a record order portfolio when it releases second quarter results on July 24.

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(RADIOCOR) 26-06-24 13:49:34 (0377) 5 NNNN