German and Swiss markets underperform flat European bourses

lunes 4 de agosto de 2014 06:15 GYT

* German DAX and Swiss SMI equity indexes underperform

* FTSEurofirst 300 flat

* Some relief over BES rescue deal

* But euro zone Sentix index fell in August

By Sudip Kar-Gupta

LONDON, Aug 4 (Reuters) - The German and Swiss stock markets were the worst performers in Europe on Monday, as the impact of sanctions against Russia pegged back equities and offset some relief over a rescue deal for Banco Espirito Santo (BES) .

Sentix's August survey of euro zone sentiment showed an unexpected slump in the previous month as new EU sanctions on Russia weighed on growth expectations, particularly in Europe's largest economy Germany, which has a large exposure to Russia.

Sportswear company Adidas issued a profit warning last week, blaming its exposure to a weak Russian market, and brokerage Berenberg cut its rating to "hold" from "buy".

"Germany stands to lose more than most in case of additional sanctions against Russia," said SteppenWolf Capital chief investment officer Phoebus Theologites.   Continuación...