European shares sag as major financial stocks flop

jueves 12 de mayo de 2016 04:12 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)

* Aegon slumps after Q1 results miss forecasts

* Ct Agricole also falls after posting lower profits

* Mainland Europe ETF outflows worst since 2008 - UBS

By Sudip Kar-Gupta

LONDON, May 12 (Reuters) - European stocks fell on Thursday as a drop in the shares of major financial companies such as Aegon and Credit Agricole weighed on the region's markets.

The pan-European FTSEurofirst 300 index declined by 0.7 percent, while the euro zone's blue-chip Euro STOXX 50 index fell 0.6 percent.

Aegon was one of the worst-performing stocks in the region. It slumped 7.8 percent after the Dutch insurer reported worse-than-expected first-quarter underlying pretax profit of 462 million euros ($527.19 million).

Credit Agricole also fell 3.6 percent after the French bank reported a 71 percent fall in first-quarter net income, although RWE shares rose after the German utility's results beat forecasts.   Continuación...