European equities retreat as car stocks skid

viernes 15 de abril de 2016 04:17 GYT

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* FTSEurofirst index falls 0.28 pct

* Faurecia leads automobile stocks lower

* Carrefour gains after sales update

By Atul Prakash

LONDON, April 15 (Reuters) - European shares edged lower on Friday, with French car parts maker Faurecia leading automakers down, although the pan-European index stayed on track for its best weekly performance since mid-February.

The STOXX Europe 600 Automobiles and Parts index fell 1.1 percent, the top sectoral decliner, as Faurecia shares fell nearly 5 percent after the company said that its quarterly sales in China were down 2 percent.

Barclays analysts said that Faurecia's revenues were below consensus due to lower sales of components used in catalytic converters for exhaust systems and higher negative foreign exchange impact.

"(The) other disappointing bit of the release was the absence of any sales guidance," they said, adding that there was a lack of clarity beyond the second quarter.   Continuación...