European shares opened weaker on Monday as crude oil touched new record highs above $60 a barrel, eating into corporate profits, while technology stocks all dipped. Nokia shed 2.7 percent, with SAP, Ericsson, Siemens and Philips also among leading losers, following falls from stocks such as Cisco Systems on Wall Street on Friday. "There is no specific reason why techs are down, it is just general macro-economic factors, the oil price and stocks in Asia being down," said a trader, according to Reuters. By 0725 GMT, the FTSEurofirst 300 index was 0.7 percent lower at 1,134.18 to follow Friday's weaker close from three-year highs. British online casino PartyGaming jumped 9 percent on its market debut after pricing its shares at 116 pence each as part of London's biggest initial public offering for several years. Shares were trading at 127p early on Monday. Crude oil traded as high as $60.50 as strong U.S. demand supports soaring fuel costs, while investors were also spooked by the election of ultra-conservative Iranian hardliner Mahmoud Ahmadinejad in presidential elections. Shares may receive a slight boost from Germany's Ifo business sentiment index at 0800 GMT, which is expected to show its first improvement in five months in June, helped by a weaker euro and hopes that an early general election will speed up reform. --SP 1758 Local Time 1458 GMT
