STOCKS NEWS EUROPE-Solars down on price, financing fears

Shares in German solar companies fall on continued fears about pricing pressure in the industry while traders also point to ongoing difficulties in the credit market, weighing on the funding-dependent solar sector.

One Frankfurt-based trader points to an article in German daily newspaper Berliner Zeitung in which Reyad Fezzani, head of BP's (BP.L) solar unit, says that prices for solar modules have fallen at least 30 percent compared to last year, "in some cases, even 40 percent."

In addition, worries about money supply growth -- which slowed in the euro zone in May [ID:nLU67809] -- also weigh, according to Gunnar Janssen, head of sales and trading at Silvia Quandt & Cie. AG, as the solar sector is to a great extent dependent on project funding.

Shares in Conergy (CGYG.DE), Solon (SOOG.DE), Centrotherm (CTNG.DE), SolarWorld (SWVG.DE) and Q-Cells (QCEG.DE) are all down between 1.3 and 4.9 percent, underperforming the FTSE clean tech index .FTET50, which is down 1 percent.

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net