European shares retreat from highs, Hugo Boss slips

miércoles 28 de mayo de 2014 04:34 GYT

* FTSEurofirst 300 falls 0.2 percent

* Hugo Boss falls after share placement

* Ahold down after below-forecast profit

By Atul Prakash

LONDON, May 28 (Reuters) - European shares fell on Wednesday, with Hugo Boss putting pressure on the market after Permira placed a 5.6 percent stake in the company and Ahold slipping after its first-quarter operating profit came in below expectations.

Shares in fashion group Hugo Boss fell 2.4 percent to 103.35 euros, one of the biggest drags on the pan-European FTSEurofirst 300 index, after a source familiar with the transaction said the shares were placed with institutional investors at 101.50 euros apiece.

And Dutch supermarket chain Ahold slipped 2.5 percent after its operating income, adjusted for one-off factors, dropped 6.2 percent as margins fell in the United States and the Netherlands, its main markets.

The two companies put pressure on the broader market, with the FTSEurofirst 300 index of top European shares falling 0.2 percent to 1,375.45 points by 0815 GMT, after hitting its highest level in more than six years on Tuesday.

"The market has some potential to rise further in the summer after recent gains, but equities are clearly not that cheap anymore," Gerhard Schwarz, head of equity strategy at Baader Bank in Munich, said.   Continuación...