Weak German data and LVMH results weigh on European shares

viernes 25 de julio de 2014 10:15 GYT

* Weak German Ifo reading weighs on DAX

* LVMH slumps after below-forecast Q2 results

* DAX down 0.6 pct, CAC down 0.9 pct

* FTSEurofirst 300 index down 0.3 pct

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 0.6 percent at 9,734.11 points going into the close of the trading day.

The DAX came under pressure after a survey by the respected Ifo think tank 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...