European shares steady, although Ericsson slumps

miércoles 12 de octubre de 2016 05:02 GYT
 

* STOXX 600 flat

* Ericcson slumps after profit warning, Nokia also falls

* Airline stocks, PageGroup gain (Adds detail and quotes, updates prices)

By Kit Rees

LONDON, Oct 12 (Reuters) - European stock markets were steady on Wednesday, although Sweden's Ericsson led the region's technology stocks down to a one month-low after issuing a profit warning.

The STOXX 600 index struggled to find direction and traded flat in percentage terms by 0848 GMT, having fallen in the previous session.

Germany's DAX also fell 0.2 pct, while Britain's blue-chip FTSE 100 index dropped 0.5 percent. The UK's FTSE 250 mid-cap index was down 0.4 percent.

Telecoms equipment maker Ericsson dropped more than 16 percent to its lowest point since 2008 after warning that its third-quarter profit would be "significantly lower" than expected after a downturn in its mobile broadband business had accelerated.

The world's biggest maker of mobile network equipment reported a 94 percent plunge in quarterly operating profit and tumbling sales at its core networks division.   Continuación...