European shares depressed by earnings, luxury proves a drag

miércoles 22 de abril de 2015 11:04 GYT

* FTSEurofirst 300 retreats 0.3 pct

* Luxury stocks among worst performers

* Finnish group Kone also slumps

* Volvo surges higher after naming new CEO

By Sudip Kar-Gupta

LONDON, April 22 (Reuters) - Company earnings depressed Europe's regional stock indexes on Wednesday, with the luxury sector dragging on the market.

Luxury groups Richemont and Kering were among the worst performers after Richemont warned its net profit for the year would drop by 36 percent and Kering's sales dropped by more than expected.

Kering fell 6.1 percent while Richemont weakened by 1.1 percent. Finnish elevator company Kone also slumped 6 percent after warning of uncertainty in its main China market and posting weaker than expected profits.

British supermarket operator Tesco also fell after reporting its worst ever loss.   Continuación...