European shares fall, JC Decaux and Raiffeisen slump

miércoles 11 de mayo de 2016 06:51 GYT
 

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details) Updates prices)

* FTSEurofirst 300 index drops 0.7 percent

* JC Decaux slumps as brokers cut estimates on stock

* Raiffeisen drops as merger plan unsettles some investors

By Sudip Kar-Gupta

LONDON, May 11 (Reuters) - European shares slipped on Wednesday as some weak earnings pushed the market lower after two previous days of gains.

Outdoor advertising group JC Decaux was among the worst performers.

The pan-European FTSEurofirst 300 index and the European STOXX 600 index were both down by around 0.7 percent by 1038 GMT.

JC Decaux slumped 7.8 percent. A weak second-quarter outlook issued by the company caused several investment banks to cut their ratings and price targets on the stock.   Continuación...