European shares end lower as utilities, banks slide

miércoles 12 de noviembre de 2014 13:38 GYT

* FTSEurofirst 300 index closes 1.1 pct lower

* Utilities slip after results from some firms

* Banking shares down after forex probe fines

* Italy's FTSE MIB underperforms wider market

By Atul Prakash

LONDON, Nov 12 (Reuters) - European shares fell on Wednesday after two days of gains, with utilities stocks slipping after disappointing earnings and financials hit by global regulators' move to fine five banks for failings in currency trading.

The utilities index fell 2.4 percent, the biggest sectoral decliner, led by a 5.9 percent drop in Italy's Enel after it lowered its debt-reduction target for 2014 and reported a drop in nine-month core earnings.

Germany's top utility E.ON fell 3.4 percent after posting a steep drop in profits at its business in Russia, its most important foreign market.

Analysts said the market was likely to remain volatile in the near term due to choppy earnings results.   Continuación...