European Stocks close: the disappointing first quarter results of technology companies put pressure on stock markets

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%