European shares led lower by JC Decaux and Raiffeisen

miércoles 11 de mayo de 2016 11:08 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, adds details)

* FTSEurofirst 300 index drops 0.5 percent

* JC Decaux slumps as brokers cut estimates on stock

* Raiffeisen drops as merger plan unsettles some investors

* Banco Popolare touches record low after surprise loss

By Sudip Kar-Gupta and Danilo Masoni

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

The pan-European FTSEurofirst 300 index and the European STOXX 600 index were both down by around 0.5 percent by 1445 GMT.

Among the worst performers was outdoor advertising group JC Decaux. The stock slumped 9.6 percent after a weak second-quarter outlook led several investment banks to cut their ratings and price targets on the shares.   Continuación...