European shares resume slide, Iliad surges

martes 14 de octubre de 2014 04:34 GYT
 

* FTSEurofirst 300 down 0.2 percent, extends sell-off

* Luxury stocks drop on Burberry, Mulberry warnings

* French telecoms rally as Iliad drops T-Mobile bid

By Blaise Robinson

PARIS, Oct 14 (Reuters) - European stocks fell early on Tuesday, losing ground for the seventh time in 10 sessions and tracking steep losses on Wall Street as investors fret about the strength of the global economy.

British luxury brand Burberry was among the top losers in Europe, down 4.4 percent after warning that market conditions were becoming more difficult, partly offsetting reduced currency headwinds.

The warning hurt shares of other luxury goods makers, with Louis Vuitton owner LVMH down 1.3 percent.

Smaller rival Mulberry tumbled 17 percent after saying full-year pre-tax profit would be significantly below expectations after a slump in first-half trading added to the disruption of a product overhaul.

Bucking the trend, shares in Iliad surged 13 percent in brisk volumes after the French low-cost telecoms operator dropped its bid to buy T-Mobile U.S. Inc.   Continuación...