Luxury stocks lead European shares lower after LVMH misses forecast

viernes 25 de julio de 2014 03:52 GYT

* FTSEurofirst 300 down 0.2 pct

* France's CAC underperforms after LVMH update

* RBS gains 13.5 percent after unexpected surge to profit

By Alistair Smout

EDINBURGH, July 25 (Reuters) - European shares fell on Friday, with French stocks in particular underperforming after a batch of weaker-than-expected earnings reports, ahead of closely followed German sentiment data.

Shares of French luxury-goods group LVMH fell 5.3 percent, the worst performer on the pan-European FTSEurofirst 300, after posting below-forecast second-quarter sales and profits, hit by a drop in demand from China.

The Stoxx Europe Personal and Household goods sector was down 1.3 percent, the biggest sectoral faller, as other luxury firms with China exposure such as Richemont, Burberry and Kering also suffered.

French companies Danone and Lafarge were both in negative territory after missing consensus forecasts.

The blue-chip French CAC-40 index fell 0.7 percent, underperforming the FTSEurofirst 300, down 0.2 percent to 1,379.30, erasing some of the previous session's gains.   Continuación...