European stock rally pauses after mixed corporate results

miércoles 25 de febrero de 2015 13:22 GYT
 

(Updates prices at settle)

* FTSEurofirst 300 down 0.1 pct, hovers below seven-year high

* Weir falls 8.7 pct after revenue warning

* AXA up 2.6 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 8.7 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 6.7 percent after saying it plans to cut 1,400 jobs in 2015, following a drop in demand from oil company customers.

The FTSEurofirst 300 index of top European shares closed 0.1 percent lower at 1,541.80 points, retreating from a seven-year high reached on Tuesday.   Continuación...