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STOCKS NEWS EUROPE-Medigene falls as Q2 figs disappoint

Fri Aug 7, 2009 3:37am EDT

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Shares in Medigene (MDGGn.DE)fall 5.3 percent, making them the sharpest decliners among German tech stocks .TECDAX, after the bitoech reports a larger-than-expected second-quarter loss. DZ Bank analyst Elmar Kraus says Medigene's revenues of 8.4 million euros ($12.06 million) were lower than his broker's estimates of 9.2 million euros and its net loss of 6.37 million euros was below market expectations of 4 million euros.

"The second-quarter figures have been impacted by a weak financial result and a shift of product sales between the first and second quarter," Kraus says.

Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net

($1=.6966 Euro)


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