European shares flat as Software AG outlook hits tech stocks

martes 15 de julio de 2014 04:07 GYT
 

* FTSEurofirst 300 flat, Euro STOXX 50 down 0.3 pct

* Software AG down 14 pct after cutting sales outlook

* H&M, Gjensidige help Nordics outperform

By Francesco Canepa

LONDON, July 15 (Reuters) - European shares were little changed on Tuesday as a gloomy outlook statement from Software AG was partly offset by strong earnings reports from Scandinavian companies such as H&M.

Shares in Software AG fell 14 percent after the company said it now expects 2014 revenues to be stagnant compared with a year earlier, a warning signal for the software industry before the second-quarter reporting season.

While Software AG's direct competitors, such as Informatica Corp and Tibco Software, are mostly listed in the United States, but Tuesday's announcement was felt on the STOXX Europe 600 Tech index. The index fell 0.6 percent, making it the worst-performing sector.

"It's not a good sign that some clients are postponing signing (contracts)," an analyst said.

The pan-European FTSEurofirst 300 index was flat at 1,363.66 points at 0745 GMT. The Euro STOXX 50 fell 0.3 percent at 3,176.57 points.   Continuación...