European shares dip; Carlsberg hit by Russia concerns
* FTSEurofirst 300 flat, Euro STOXX 50 down 0.2 pct
* Carlsberg warns of deteriorating conditions in Russia
* Heineken surges after forecast-beating results
* Luxottica slumps on reports CEO to step down
By Blaise Robinson
PARIS, Aug 20 (Reuters) - European shares dipped in early trade on Wednesday, ending a sharp two-day rally, with investors rattled after Carlsberg issued a profit warning, blaming deteriorating conditions in Russia.
Shares in the Danish brewer plunged 5.8 percent after the warning. It derives 35 percent of its profits from Russia, making it a test case of how European companies will be affected by tensions between the West and Russia over the conflict in Ukraine and the impact of sanctions on the Russian economy.
Shares in rival Heineken, however, surged 6.8 percent after the brewer posted better-than-expected first-half operating profit, as it sped up cost savings and grew volumes in all regions except for Central and Eastern Europe.
Fighting in Ukraine and sanctions against Russia, a major energy supplier to Europe, have muddied the forecasts of a number of multinationals including Henkel, Adidas and Rheinmetall. Continuación...