Earnings weigh on European shares as companies hit by global exposure

jueves 23 de octubre de 2014 07:19 GYT

* FTSEurofirst 300 falls 0.6 percent

* Michelin and Unilever fall, flagging weak EM demand

* Strong PMIs from Germany and euro zone support index (Recasts, adds quote, detail)

By Alistair Smout

EDINBURGH, Oct 23 (Reuters) - European stocks fell on Thursday, hindered by weak corporate results from companies including French tyre-maker Michelin, despite receiving support from better-than-expected euro zone business activity data.

Michelin and Unilever cited poor demand from emerging markets as the former cut its full-year revenue goal and the latter reported weaker-than-expected quarterly sales. Unilever's London-listed shares were down 2.4 percent.

""I think there still is going to be earnings growth, but there is some evidence that international operations are weak," said Jasper Lawler, market analyst at CMC Markets.

"Euro zone economies still aren't convincingly strong, and emerging markets aren't providing much respite either."

Britain's biggest grocer Tesco and French advertising group Publicis also fell sharply after reporting disappointing numbers.   Continuación...