(Il Sole 24 Ore Radiocor) - Milano, 22 apr - Shares of the Italian hearing aid retailer Amplifon were lower in Milan trade in the wake of a profit warning from Australian implantable hearing aid group Cochlear.

At 0800 GMT, Amplifon shares were down 2.97% to 9.718 euros while the benchmark FTSE MIB was 0.10% higher at 47,952.21 points.

Yesterday Cochler cut its adjusted net profit guidance for its fiscal year that ends on June 30 to 290-330 Australian dollars from about 435-460 million dollars previously, leading Cochlear stocks to fall over 40% in trading on the Sydney stock market.

Analysts at the Italian broker Intermonte note the downward revision in guidance reflects weaker demand in mature markets and discontinuity in emerging markets, aggravated by operating restrictions in hospitals and macroeconomic and geopolitical factors.

While Intermonte notes that the impact on European groups in the hearing aid sector should be limited given their low exposure to cochlear implants, investors have nonetheless taken the opportunity of the Cochlear profit warning to take profits on shares in the sector.

Alongside the decline in Amplifon shares, in Copenhagen trade GN Store Nord shares were down 1.73% and Demant was 2.53%.

lower while Sonova shares shed 0.44% in Zurich.

(RADIOCOR) 22-04-26 10:06:02 (0232) 5 NNNN