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Airbus tumbles on profit warning

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Other aero-related stocks slide

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Tech, industrials lead sell-off

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STOXX 600 down 0.3%

(Updated at 0819 GMT)

By Jesus Calero and Shashwat Chauhan

June 25 (Reuters) - European shares declined on Tuesday

as Airbus tumbled after a profit warning and dragged down

aerospace-related stocks, while technology shares slumped

tracking the overnight selloff on Wall Street.

The continent-wide STOXX 600 fell 0.3% by 0819 GMT.

Airbus tumbled nearly 11%, and was among the

biggest drags on the index, after Europe's largest aerospace

group cut its industrial and financial targets and took a hefty

900 million euro ($965 million) charge for its troubled space

activities.

Its profit warning and forecast for fewer plane deliveries

dragged jet-engine manufacturers Rolls-Royce and MTU Aero

Engines lower.

Indeed, the wider STOXX Europe aerospace and defence index

slid 5.1%, on track for its biggest one-day drop since

November 2021.

The tech sub-index, which houses some of Europe's

biggest chip-related firms, dropped 1.4%, tracking the

Nvidia ( NVDA )-led pullback in U.S. stocks.

Still, some market strategists spotted an opportunity in

tech stocks, whose 14% gain so far this year places it among the

best-performing sectors in Europe.

"We're seeing a pretty healthy broadening of a longer-term

equity rally ... tech stocks had an amazing run and it's nothing

but healthy that they're taking a bit of a pause giving

opportunity to investors to catch their breath and reposition,"

said Tom Gehlen, senior market strategist at SG Kleinwort

Hambros.

The market's focus would remain on the first round of French

parliamentary elections later in the week.

Paris stock market operator Euronext's CEO said the prospect

of a politically extreme party with little or no government

experience reaching power is worrying investors.

France's benchmark CAC 40 slipped 0.6% amidst the

broader sell-off.

Among other stocks, Germany's Merck shed 9.7%,

after the drug maker said it has stopped its trials for

xevinapant in advanced head and neck cancer.

On the flip side, French lab testing firm Eurofins

gained 5.3% after falling as much as 25% on Monday when short

seller Muddy Waters took a short position in the company.

UK-based insurer Admiral Group rose 2.2% after

brokerage Berenberg upgraded its rating to "buy".