European shares knocked as oil slide hits earnings

jueves 29 de enero de 2015 13:35 GYT
 

* FTSEurofirst 300 down 0.1 pct after bullish Fed statement

* Greek stocks rebound, banks edge up from record lows

* Vallourec warns of impairment, shares fall (Updates with closing prices)

By Alistair Smout and Blaise Robinson

LONDON/PARIS, Jan 29 (Reuters) - Weak corporate updates pegged back European shares on Thursday, as the effects of a rout in oil prices knocked back heavyweight energy firms.

Some traders said the Federal Reserve's statement on Wednesday, signalling U.S. rate rises were still likely this year, was also crimping appetite for shares. But Greek stocks recovered some of their losses, with banks rebounding from record lows hit earlier in the week.

Royal Dutch Shell dropped 4.3 percent, blaming writedowns and forex losses for making almost no money in oil production, its most powerful division, in the last quarter of 2014, causing the company to miss profit forecasts by more than 20 percent.

The oil major said it would cut spending by $15 billion over the next three years.

Oil and gas stocks fell 2.8 percent, down over 20 percent since June, with the price of a barrel of Brent crude falling nearly 60 percent in the same period.   Continuación...