European shares set for 2015's first monthly fall after Nokia drop

jueves 30 de abril de 2015 06:38 GYT

* FTSEurofirst 300 drops 0.3 percent

* Nokia leads tech selloff after telecoms profit miss

* SCA, Banco Popular up after results (Recasts, adds detail, quote)

By Alistair Smout and Francesco Canepa

LONDON, April 30 (Reuters) - A selloff in technology stocks weighed on European shares on Thursday after disappointing numbers from Nokia, leaving a top pan-European equity index set for its first monthly fall this year.

Shares in Finnish firm Nokia fell 8.2 percent after it posted quarterly profits well below forecast at its main telecom network equipment business, citing lower software sales, higher costs and challenging conditions in Europe and Latin America.

"It came as a surprise to many because Nokia's business mix was supposed to be a bit better than this," Evli Bank analyst Mikko Ervasti said.

"It looks like Nokia had to make quite a lot of very basic network implementation, which is quite a costly business that yields better results later when those networks get their upgrades."

Sector peer Alcatel Lucent, the target of a planned takeover by Nokia, dropped 6.6 percent while Ericsson was down 2.1 percent and the broader STOXX Europe 600 tech index fell 1.5 percent.   Continuación...