European shares set one-week low, Aberdeen AM leads
* Pan-European FTSEurofirst 300 ends 0.5 pct lower
* Aberdeen Asset Management down after update
* Credit Suisse gains as profits beat forecasts
By Atul Prakash
LONDON, July 23 (Reuters) - European equities slipped to a one-week low on Thursday, with disappointing updates from companies including Aberdeen Asset Management and British energy supplier SSE pressuring their shares.
U.S. data showing new applications for unemployment benefits last week fell to the lowest level in more than 41 years also weighed on sentiment as these numbers further strengthened the case for a U.S. interest rate hike, analysts said.
The FTSEurofirst 300 index of top European shares closed 0.5 percent lower at 1,578.65 points after falling to its lowest level in more than a week. This extended the index's fall on Wednesday, when tech stocks dragged down the market after Apple's revenue forecast fell short of estimates.
Aberdeen Asset Management was the biggest decliner in the FTSEurofirst 300 index after the fund manager said it saw net outflows of 9.9 billion pounds ($15.5 billion) in the April-June quarter as institutional investors cut exposure to Asia and emerging markets equities.
"We have got concerns about the eminent prospect of a U.S. rate hike in the next couple of months and this is getting reflected in outflows. Those companies which are heavily dependent on the emerging market for their final product may struggle," Peter Dixon of Commerzbank said. Continuación...