European shares flat as energy firms counter tech drag
(Reuters) — European shares were muted on Friday, as a slump in technology stocks following software maker SAP's downbeat forecast was offset by gains in energy companies, which tracked oil prices higher.
The pan-European STOXX 600 index held steady at 463.72 points by 0707 GMT and was set to post a slim 0.6% gain for the week.
SAP fell 4.8% a day after the business software maker trimmed its full-year outlook for key cloud sales.
Europe's technology sector, already the biggest decliner among major sectors this week, fell 1.6%.
Energy firms gained 0.7% as oil prices edged higher, with investors assessing chances of further stimulus from China. [O/R]
Swedish steelmaker SSAB slid 13.4% to the bottom of the STOXX 600 after reporting a bigger-than-expected drop in quarterly earnings, while Lonza dropped 7% after the Swiss contract drug manufacturer cut its full-year outlook.
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