European shares fall after PMI surveys, Ericsson down 12 pct

jueves 23 de abril de 2015 07:44 GYT

* Pan-European FTSEurofirst index falls 0.8 pct

* PMI surveys depress market sentiment

* Ericsson, Bilfinger slump; Michelin surges

By Atul Prakash

LONDON, April 23 (Reuters) - European shares slipped on Thursday, with Germany's DAX index underperforming following a disappointing purchasing managers' survey while weak results from Ericsson hit technology stocks.

Another survey showing factory activity in China, the world's largest metals consumer, contracted at its fastest pace in a year in April, hit mining stocks. The STOXX Europe 600 Basic resources index fell 1.2 percent.

Tech shares were hit as telecom equipment maker Ericsson slumped 12 percent after it posted weaker-than-forecast first-quarter operating profit and said it expected sales in its main North American market to stay sluggish.

The STOXX Europe 600 Tech index dropped 2.6 percent.

After opening higher on the back of some positive company updates, the pan-European FTSEurofirst 300 index was down 0.8 percent at 1,615.67 points by 1140 GMT.   Continuación...