JC Decaux dives as European shares slip back
LONDON May 11 (Reuters) - European shares slipped back on Wednesday, with outdoor advertising group JC Decaux among the worst-performers, as some weak earnings pushed the market lower after two previous days of gains.
The pan-European FTSEurofirst 300 index and the European STOXX 600 index were both down by 0.4 percent.
JC Decaux slumped 8.5 percent, as a weak second-quarter outlook issued by the company caused several investment banks to cut their ratings and price targets on the stock.
However, shares in Norwegian publishing company Schibsted surged 8.4 percent after the company reported first-quarter core earnings above expectations.
The FTSEurofirst 300 index is down 8 percent so far in 2016, with world stock markets having been impacted by concerns about a China-led global economic slowdown. (Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)
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