STOCKS NEWS EUROPE-Thales sinks after profit warning

Shares in Thales (TCFP.PA) tumble 3.7 percent after the French defence electronics firm reports lower-than-expected quarterly sales and issues a profit warning for the second half as it braces for fresh charges due to struggling aerospace deals.

"Management's message regarding the second half is increasingly cautious," a Paris-based trader says.

"New charges will not allow Thales to reproduce the underlying operating profit level observed in previous years excluding restructuring charges, contrary to the indications provided by the company in the first half."

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