Weak German data and fall at LVMH weigh on European shares

viernes 25 de julio de 2014 05:25 GYT

* Weak German Ifo reading weighs on DAX

* LVMH slumps after below-forecast Q2 results

* DAX down 0.1 pct, CAC down 0.5 pct

* FTSEurofirst 300 index flat

By Sudip Kar-Gupta

LONDON, July 25 (Reuters) - Weak German economic data and a slump in the shares of luxury goods group LVMH weighed on European stock markets on Friday.

Germany's benchmark DAX equity index, which hit a record high of 10,050.98 points in late June, was down by 0.3 percent at 9,760.65 points going into the middle of the trading day.

The DAX came under pressure after the Munich-based Ifo think-tank's business climate index showed that German business sentiment fell to its lowest level in nine months in July.

"The IFO number looked negative. I think the European stock markets will drift slightly lower," said Darren Courtney-Cook, head of trading at Central Markets Investment Management.   Continuación...