Earnings disappointment dent European shares, Athens loses more ground

martes 4 de agosto de 2015 04:05 GYT
 

* FTSEurofirst falls back 0.5 pct, Euro STOXX down 0.6 pct

* Athens market down 4 pct after slumping 16 pct on Monday

* Worries over stalled reforms hit Credit Agricole shares

* BMW down as earnings momentum slows

By Sudip Kar-Gupta

LONDON, Aug 4 (Reuters) - European stock markets lost ground on Tuesday, with French bank Credit Agricole and German carmaker BMW among the worst performers after reporting results, while weak oil prices also weighed on energy stocks.

The pan-European FTSEurofirst 300 index, which had risen 0.7 percent on Monday, fell back by 0.5 percent while the euro zone's blue-chip Euro STOXX 50 index also weakened by 0.6 percent.

The Athens stock market, which had slumped 16 percent on Monday after re-opening following a five-week shutdown, fell a further 4 percent on Tuesday as the country grapples with debt and economic problems.

Many investors have cut their exposure to Greece, which accounts for only a fraction of the overall European economy, and are focusing more on the state of "core" European markets such as Germany and France.   Continuación...