STOCKS NEWS EUROPE-Dassault Systemes sinks after results
Shares in French software company Dassault Systemes (Other OTC: DASTF - news) tumble 6.4 percent, the biggest losers on France's broad SBF 120 index after posting disappointing results and warning about the impact of the drop in the yen on its margins.
"As feared, the group sees the EBIT (earnings before interest and taxes) margin declining significantly year-on-year; acquisitions dilutive to margins, -250 basis points headwind from the yen as Dassault did not succeed in rolling forward its hedge policy over the past six months," Societe Generale (Paris: FR0000130809 - news) analysts write in a note.
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