The company provided a cautious outlook for 2023, but said
it would continue to focus on improving profitability this year,
including by cutting several hundred jobs across many of its
teams as announced last month.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by
Subhranshu Sahu)
(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 7 (Reuters) - European shares opened marginally
lower on Tuesday, with technology stocks leading declines ahead
of U.S. Federal Reserve Chair Jerome Powell's testimony, while
luxury stocks gave back gains on bleak China data.
The pan-European STOXX 600 index dipped 0.1% by
0816 GMT, with the rate-sensitive tech sector index down
0.8%.
Powell's testimony before Congress, set to begin at 1500 GMT
(10 am EST), is keenly awaited for insights into the Fed's next
move on interest rates.
Trade data from China showed a fall in exports and imports
for the January-February period and pointed to continued
weakness in demand for the country's products. China-exposed
luxury giant LVMH fell 0.8%, weighing the most on the
benchmark STOXX 600 index.
In a bright spot, Europe's biggest online fashion retailer,
Zalando , reversed course to trade 4.8% higher.
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