Continental European stock markets slip, underperform UK's FTSE

viernes 7 de octubre de 2016 04:22 GYT
 

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* STOXX 600, DAX and CAC all fall

* But UK's FTSE 100 rises as sterling loses more ground

* Edenred falls after UBS downgrade

By Sudip Kar-Gupta

LONDON, Oct 7 (Reuters) - Continental European stock markets fell on Friday, with vouchers company Edenred and airline easyJet among the worst performers, although a new slump in sterling propped up Britain's FTSE 100.

The pan-European STOXX 600 index was down by 0.5 percent and Germany's DAX and France's CAC both retreated by a similar amount. The STOXX 600 has fallen by around 7 percent since the start of 2016.

"European stocks look utterly uninteresting to me at the moment. Corporate profits are weak and the economy remains weak as well," said Andreas Clenow, chief investment officer at Swiss-based ACIES Asset Management.

Edenred fell 4.7 percent after UBS cut its rating on the stock to "neutral" from "buy". EasyJet fell 3.3 percent after broker downgrades following its profit warning on Thursday.   Continuación...