Sept 14 (Reuters) – European shares were subdued on Monday as technology stocks fell after executives at leading AI companies called for a slower pace of development, while another surge in oil prices dampened broader risk appetite.
The pan-European STOXX 600 was little changed at 638.95 points in choppy trading, as of 0810 GMT, with most major regional bourses trading lower.
Shares of technology firms slipped 1.4%, in line with weakness in Asian peers, after Anthropic CEO Dario Amodei called on AI companies to slow the rate at which they advance model capabilities due to fears of misuse.
Germany’s Infineon shed 5.8%, while Dutch firms ASML and ASMI lost 4.4% and 5%, respectively.
Most STOXX sectors were trading lower as oil prices surged more than 2% after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline.
The European energy sector was a bright spot, with a 0.4% advance.
Attention now turns to the U.S. Federal Reserve’s policy decision this week, with traders increasingly betting on a 25-basis-point rate hike. The European Central Bank lifted interest rates last week.
(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Sherry Jacob-Phillips)
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