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European stock markets were lower because of the weak-than-expected first quarter results of technology companies. But the lower-than-expected figures from the U.S. housing market had a negative influence on European stock markets.
Ericsson - the Swedish mobile telecom equipment maker – fell 6.00% after announcing the worse-than-expected revenue in the first quarter.
ARM Holdings – chip designer – declined 2.8% after the publication of the weak growth in the first quarter.
Scania AB shares declined 5.5 percent after a shareholder rejected Volkswagen AG’s offer for remaining shares in the Swedish company.
AB Foods (ABF) climbed 9.2 percent caused by the first-half operating profit increase of its Primark clothing-retail business.
Banca Monte dei Paschi di Siena SpA increased 3.1% because of Goldman Sachs’ upgrade of the stock to neutral from sell.
Name Price Change Change %
FTSE 100 6,674.74 -7.02 -0.11%
DAX 9,544.19 -55.90 -0.58%
CAC 40 4,451.08 33.13 -0.74%
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