European stocks fall, led by tech shares after SAP profit warning

lunes 20 de octubre de 2014 12:22 GYT
 

* FTSEurofirst 300 down 0.5 pct

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By Alistair Smout

EDINBURGH, Oct 20 (Reuters) - European stocks fell on Monday, trimming gains made in the previous session, as a profit warning by SAP hit technology shares.

Shares in the German business software maker plunged 5.8 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.

The STOXX 600 Technology index fell 2.4 percent.

SAP was the worst performer on the German DAX, which fell 1.5 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.

Both the technology sector and German blue-chip index are sensitive to economic growth, or highly "cyclical".   Continuación...