STOXX 600 down 0.8
SAP falls after U.S. prosecutors broadening probe
Euro Zone business activity down 49.6 in Sept

Oct 3 Reuters European shares declined on Thursday, weighed down by German technology firm SAP, while investors parsed through key inflation data for the bloc and its major economies.

The benchmark panEuropean STOXX 600 lost 0.8 at 516.80 points.

The automobile sector led sectoral declines, falling 2.1 to its lowest in nearly a year. The subindex was dragged by a 4.7 drop in Stellantis after Barclays downgraded the stock to equal weight from overweight.

SAP declined 1.5, pushing down the heavyweight technology sector nearly 1, after a report said U.S. prosecutors are broadening a probe on potential pricefixing by the German software developer.

All other STOXX 600 subsectors also declined.

Amongst regional bourses, France39;s CAC 40 fell 1.1, the most amongst its peers, while Germany39;s DAX lost 0.9.

Britain39;s FTSE pared early gains and was flat. It rose 0.3 at the open on a report that the Bank of England Governor, Andrew Bailey, said the 

A stalling of the Chinese rally, higher oil prices, higher bond yields, and a stronger dollar is putting that bullish narrative under some pressure, Ben Laidler, head of equity strategy at Bradesco BBI said.

You39;re seeing a bit of natural profittaking. Traders will be looking for some guidance from the reopening of China and the U.S. payrolls report on Friday.

Meanwhile, PMI data showed Euro zone…