Tech leads European stocks lower after SAP profit warning

lunes 20 de octubre de 2014 10:39 GYT

* FTSEurofirst 300 down 0.5 pct

* Tech sector weaker with Gemalto also sliding

* Portugal Telecom drops as Rioforte set for liquidation

* Nutreco, Adidas, Havas surge on M&A activity (Updates prices, adds quote, detail)

By Alistair Smout

EDINBURGH, Oct 20 (Reuters) - European stocks fell on Monday, trimming lofty gains made in the previous session, with SAP's profit warning hitting shares in the tech sector.

Shares in the German business software maker plunged 6.6 percent after it cut its outlook for full-year operating profit, joining a succession of profit and sales warnings from tech groups in the past few weeks.

Dutch tech firm Gemalto fell 3.2 percent after Barclays cut the stock to underweight from overweight, joining SAP as a top faller on the STOXX 600 Technology index, which was down 2.8 percent.

SAP was the worst performer on the German DAX, which fell 1.6 percent, lagging other major European stock indexes. It has dropped around 8 percent so far in October, after data called into question Germany's economic resilience.   Continuación...