European shares fall as tech heavyweight SAP flags trade worries
18/07/2019 at 08:26
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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
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)
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