Scoreboard: Earnings cheer

European shares dipped on Monday, while Wall Street took an IBM slump in its stride following solid earnings figures elsewhere.

European shares fell on Monday, trimming gains made in the previous session. German software maker SAP fell 5.8 per cent after cutting its full-year profit outlook. The news hit the tech sector with the STOXX 600 Technology sector falling 2.4 per cent. German sportswear firm Adidas rose 3.6 per cent after the Wall Street Journal reported that an investor group was planning a bid to buy Adidas's Reebok unit. The FTSEurofirst 300 index lost 0.5 per cent. The UK FTSE fell 0.7 per cent and the German Dax lost 1.5 per cent. And Australia's major miners were weaker in London trade with shares in BHP Billiton down by 1.4 per cent while Rio Tinto lost 0.6 per cent.

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