European stock rally pauses after mixed corporate results

miércoles 25 de febrero de 2015 11:44 GYT
 

* FTSEurofirst 300 down 0.4 pct, hovers below seven-year high

* Weir falls 8 pct after revenue warning

* AXA up 2.9 pct after says confident on cost-cutting target

By Blaise Robinson and Francesco Canepa

PARIS\LONDON, Feb 25 (Reuters) - European shares edged lower on Wednesday as mixed corporate results halted a rally that had propelled both Britain's FTSE 100 and Germany's DAX to record highs.

Shares in British engineer Weir Group featured among the top losers, down 8 percent, after it warned falling oil prices would lead to a significant reduction in its 2015 revenue in 2015.

French steel pipe maker Vallourec sank 6.9 percent after saying it plans to cut 1,400 jobs in 2015, following a drop in demand from oil company customers.

At 1534 GMT, the FTSEurofirst 300 index of top European shares was down 0.4 percent at 1,538.05 points, retreating from a seven-year high reached on Tuesday.

European equities markets remained optimistic, though. Investors expected a boost from the European Central Bank's asset-buying programme, known as quantitative easing, which is due to start next month.   Continuación...