Europe shares dip, Nokia slides as margin targets disappoint

viernes 14 de noviembre de 2014 13:26 GYT

(Adds closing levels)

* FTSEurofirst 300 down 0.2 pct, trims Thursday's gains

* Abengoa plummets on confusion about debt guarantees

* M&A speculation lifts recently hammered oil services

PARIS, Nov 14 (Reuters) - European stocks dipped on Friday, erasing most of the previous session's gains, with mining shares pressured by falling metal prices on worries over the pace of Chinese economic growth.

Telecom gear maker Nokia fell 5.5 percent, with traders citing disappointment over the group's updated profit margin targets.

The biggest loser, however, was Spain's renewable energy firm Abengoa, tumbling 37 percent, hurt by investor confusion over the garantees of one of the firm's bonds.

The stock's sell-off started on Thursday when Abengoa's management said debt raised by its Abengoa Greenfield unit would be accounted for as 'non-recourse', contrary to what debtholders had thought. The confusion over the classification of the company's non-recourse debt was adding to recent investor complaints about transparency at Abengoa.

The FTSEurofirst 300 index of top European shares ended 0.2 percent lower, at 1,344.26 points.   Continuación...