European shares fall, led lower by SAP and Nestle

lunes 11 de abril de 2016 03:19 GYT

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details)

* FTSEurofirst 300 down 0.8 pct

* SAP falls more than 2 pct

MILAN, April 11 (Reuters) - European shares were lower in early deals on Monday, led down by losses in SAP after a disappointing earnings update from the German software maker.

The pan-European FTSEurofirst 300 index was down 0.8 percent by 0717 GMT after gaining 1.2 percent in the previous session.

SAP fell more than 2 percent after the company warned that first-quarter results would be weaker than expected, while food company Nestle fell 3 percent as its shares went ex-dividend.

Shares in Daily Mail & General Trust were broadly flat after the Wall Street Journal reported that the parent company of the British Daily Mail newspaper was in talks with several private equity firms about a possible bid for Yahoo Inc .

But the Italian banking sector index was up 0.3 percent, outperforming the broader market on hopes the Italian government will soon thrash out a plan to set up a state-backed fund to buy bad loans and plug capital shortfall.