Latest News

UK News

Click Here to read UK News

Forex News

Click Here to read Forex News

Market News

Click Here to read Market News

Irish News
/fxcentre/i-want-to/read-news
European shares fall as tech heavyweight SAP flags trade worries
Published at 18/07/2019 at 08:26

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

July 18 (Reuters) - Technology stocks led a slide in European shares on Thursday as software firm SAP reported poor results and was the latest to point out the impact of a protracted trade war between the United States and China on its earnings.

Europe's most valuable tech company SAP slipped 6.9% after telling investors they will have to wait till next year for a major improvement in margins as the business software group reported a 21% decline in quarterly operating profit.

That pushed Germany's DAX down 1.1% and weighed on the pan-European stocks benchmark index , which slipped 0.6% by 0711 GMT.

Industrial company Indutrade AB tumbled nearly 12%, the most among on the benchmark index, after reporting second-quarter results.

(Reporting by Susan Mathew in Bengaluru; Editing by Arun Koyyur)

((susan.mathew@thomsonreuters.com; +91-80-6749-1130; Reuters Messaging: susan.mathew.thomsonreuters.com@reuters.net))