Nordic shares lead Europe lower as DNB, Skanska disappoint

jueves 10 de julio de 2014 03:56 GYT

* FTSEurofirst 300 down 0.1 pct, Euro STOXX 50 down 0.3 pct

* DNB, Skanska lead losers after updates

* Burberry rallies as it posts organic sales growth

By Francesco Canepa

LONDON, July 10 (Reuters) - European shares eased on Thursday, led down by Nordic stocks after disappointing updates from Norwegian bank DNB and Swedish construction firm Skanska.

Norway's largest bank posted lower-than-expected second-quarter results, partly due to higher loan losses, while Skanska said it would significantly scale down its loss-making Latin American operations after taking a charge in the second quarter.

Their shares, each down about 3 percent, were the top fallers on the pan-European FTSEurofirst 300 index, which was down 0.1 percent at 1,362.54 points by 0743 GMT.

The index, which hit a 6-1/2 year highs last month, was down for the fourth out of the past five sessions as a handful of disappointing earnings updates cast a shadow on the upcoming reporting season and raised questions about a nearly 10-percent rally between mid-March and last week.

"We were looking at an overextended market, so a degree of profit taking was inevitable," IG chief market strategist Brenda Kelly said.   Continuación...