EUROPEAN markets fell after Google report

European stocks fell, as investors weighed worse-than-estimated earnings from Google Inc. and Microsoft Corp.

European technology companies fell as Google, owner of the world’s most popular Internet search engine, yesterday reported second-quarter sales and profit that missed analysts’ estimates. Microsoft, the world’s largest software maker, posted fourth-quarter profit that trailed analysts’ forecasts by the biggest margin in at least a decade.

SAP AG and ARM Holdings Plc led a gauge of technology shares to the second-worst performance on the benchmark. 

Royal Vopak NV dropped 5.6% after cutting its earnings forecast. 

Electrolux AB jumped 4.4% after raising its estimate for U.S. demand. 

Schibsted ASA rallied to the highest price in 21 years after posting profit that topped expectations.

The Stoxx 600 lost 0.3%. Index slid from its highest level since May. The gauge is still heading for a weekly advance of 0.9% as Federal Reserve Chairman Ben S. Bernanke said the central bank remains flexible on the pace of asset purchases.

Experts noted, that we have had some pretty positive moves the last few weeks, so there is room for profit taking. Now we are seeing some weakness among technology stocks in Europe and Asia after the results from Microsoft and Google.

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