Weak earnings and fall in luxury stocks weigh on European shares

miércoles 22 de abril de 2015 15:21 GYT
 

(Updates with closing prices)

* FTSEurofirst 300 closes flat at 1,628.35 points

* 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) - A raft of weak corporate earnings coupled with sharp drops in some major luxury goods stocks weighed on European equities on Wednesday.

Luxury group Kering was among the worst performers after reporting sales dropped by more than expected, with rivals such as Burberry and Hugo Boss also retreating. Kering fell 3.9 percent.

Finnish elevator company Kone slumped 5.3 percent after warning of uncertainty in its main market, China, and posting weaker than expected profits.   Continuación...