WRAPUP 2-Downturn bites for European power sector

* GDF Suez, RWE, CEZ 9-mth profits miss expectations

* GDF Suez stock down 0.8 pct, CEZ down 0.6 pct

* RWE shares down 0.4 pct

* EDF tweaks 2009 outlook down; shares drop 1 percent

(Adds CEZ earnings, shares)

By Peter Dinkloh and Marie Maitre

FRANKFURT, Nov 12 (Reuters) - The economic downturn is hurting power producers more than feared, results from some of Europe's largest utilities GDF Suez (GSZ.PA), EDF (EDF.PA), RWE (RWEG.DE) and CEZ (CEZPsp.PR), showed on Thursday.

Both France's GDF Suez and Germany's RWE reported weaker earnings in the first nine months of the year that also missed expectations. Tumbling gas prices due to weak industrial demand were at the heart of the companies' problems. [ID:nLA022008]