Legrand loses ground as European shares slip ahead of ECB

jueves 6 de noviembre de 2014 04:43 GYT
 

* FTSEurofirst 300 edges lower ahead of ECB meeting

* Legrand falls after cautious outlook

* HeidelbergCement up after better-than-expected profits

By Sudip Kar-Gupta

LONDON, Nov 6 (Reuters) - European shares fell on Thursday, with switch maker Legrand underperforming, as investors' caution that a European Central Bank (ECB) meeting might not yield new monetary easing measures weighed on markets.

The pan-European FTSEurofirst 300 index, which had risen 1.7 percent on Wednesday, slipped back to fall 0.3 percent to 1,344.26 points.

Germany's DAX, which had hit a record high of 10,050.98 points in June, fell 0.1 percent to 9,302.81 points while France's CAC retreated 0.3 percent.

French group Legrand slid 5 percent after Legrand said its full-year organic sales growth and margin targets had become tough to reach amid a weakening macroeconomic environment.

Swiss staffing company Adecco also fell 3.4 percent after it said that the pace of revenue growth had slowed down, although German cement maker HeidelbergCement rose 5.1 percent after it posted a better-than-expected rise in core profits.   Continuación...