Tech sector tightens its grip over Europe's stock markets

By Julien Ponthus and Danilo Masoni
LONDON/MILAN (Reuters) - Surging technology stocks are increasing their influence over European stock markets, with Prosus <PRX.AS> poised to snatch a key spot in the continent's leading index.
Prosus, one of the world's largest technology investors, will make its debut on the Euro STOXX 50 <.STOXX50E> on September 21 as part of a reshuffle of the index, index provider STOXX announced on Tuesday. Prosus owns nearly a third of China's Tencent <0700.HK>.
Europe's Tech index <.SX8P> is up over 14% so far in 2020 while the broader pan-European STOXX 600 <.STOXX> is down more than 10%, hit hard by the economic downturn triggered by the lockdowns to fight the coronavirus pandemic across the continent. Tech stocks have led European and U.S. bourses throughout the COVID-19 crisis.
Inclusion into ...


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