European shares steady as Ukraine talks set; Subsea 7, Adidas drop

miércoles 5 de marzo de 2014 07:28 GYT

* FTSEurofirst 300 down 0.1 percent

* Equity markets steady after sharp Ukraine-led moves

* Subsea 7 falls as Q4 earnings, outlook disappoint

* Adidas falls; sees hit from EM currency swings

By Tricia Wright

LONDON, March 5 (Reuters) - European shares were steady on Wednesday as Washington and Moscow set up talks to ease tensions over Ukraine, but companies Subsea 7 and Adidas suffered after downbeat results.

The FTSEurofirst 300 was down 0.1 percent at 1,343.23 points by 1059 GMT, after two days of sharp swings.

Oil-services supplier Subsea 7 fell 6.1 percent, the biggest drop on the pan-European FTSEurofirst 300. The company said it expected its order backlog to fall in the first half of 2014, after posting quarterly earnings below forecasts. By mid-session, Subsea 7 had traded twice its 90-day daily average volume, against the FTSEurofirst 300 on a third.

German sporting-goods retailer Adidas fell 1.4 percent after warning its 2014 results would take a significant hit from weakening emerging-market currencies such as Russia's rouble. Volume in Adidas stood at twice its 90-day daily average.   Continuación...