STOCKS NEWS EUROPE-Siemens down after writedown burdens Q4

Shares in German engineering giant Siemens (SIEGn.DE) drop 1.3 percent and feature as the top decliners in Germany's top-30 index .GDAXI, which is up 1 percent, after the company says a writedown on its networks unit pushed it to a fourth-quarter net loss.

"The fourth-quarter loss was worse than expected, due to writedown on its struggling networks unit, but this should be overshadowed by the operating side where revenues and margins were in line to slightly better than expected and where sector profit came in above expectations," says Heino Ruland, strategist at Ruland Research. For more double click on [ID:nGEE5AS0DS]

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