Sonova slumps as sluggish European stocks make little progress

miércoles 18 de mayo de 2016 04:15 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)

* Sonova slumps after missing financial targets

* Renewed prospect of U.S. rate hike impacts equities

* Goldman Sachs cuts equities to "neutral"

By Sudip Kar-Gupta

LONDON, May 18 (Reuters) - European stock markets dipped lower on Wednesday, weighed down by renewed expectations of U.S. interest rate rises this year, and some weak corporate earnings.

The pan-European FTSEurofirst 300 index declined by 0.2 percent, while the euro zone's blue-chip Euro STOXX 50 index fell 0.4 percent.

Swiss hearing aid maker Sonova was among the worst-performing stocks in Europe, slumping 8.3 percent after missing its full-year sales and profit targets.

On Tuesday, data showed that U.S. consumer prices recorded their biggest increase in more than three years in April, pointing to a steady inflation build-up that could give the Federal Reserve ammunition to raise interest rates later this year.   Continuación...