European shares fall, weighed by earnings, Ukraine woes

miércoles 30 de julio de 2014 12:34 GYT
 

* FTSEurofirst 300 down 0.5 pct; Portugal's PSI down 3.3 pct

* Cement makers lead declines as forex hits results

* U.S. GDP's strength provides no help; focus shifts to Fed

* Traders fear escalation in Russia-Ukraine conflict

By Francesco Canepa

LONDON, July 30 (Reuters) - European shares closed lower on Wednesday, as strong U.S. growth failed to offset some weak earnings reports and concern the conflict between Russia and Ukraine will escalate.

Holcim's and HeidelbergCement's shares fell 4.8 percent and 2.8 percent respectively, leaving the STOXX Europe 600 constructions and materials index down 1.5 percent.

French electrical-gear maker Schneider Electric, down 4.3 percent, also blamed the depreciation of several currencies against the euro for disappointing sales growth in the first half of the year.

Companies in the STOXX Europe 600 that have reported quarterly results so far have seen their sales drop by an average 1 percent, StarMine data showed.   Continuación...