Weaker UPM-Kymmene leads European shares lower

martes 28 de abril de 2015 04:53 GYT

* Pan-European FTSEurofirst 300 index falls 0.6 pct

* UPM-Kymmene, Commerzbank and Geberit top fallers

* Greek share index outperforms, up 0.5 pct

By Atul Prakash

LONDON, April 28 (Reuters) - European equities fell on Tuesday following some weaker-than-expected updates, with paper maker UPM-Kymmene slipping after announcing results and Commerzbank's plan to raise 1.4 billion euros ($1.5 billion) hurting its shares.

Commerzbank dropped 4 percent after Germany's No.2 bank on Monday launched a share sale to raise money from institutional investors to bolster its capital.

Investors also traded cautiously ahead of the start of the Federal Reserve's two-day policy meeting on Tuesday. Analysts expect recent soft U.S. data will nudge the U.S. central bank towards a dovish stance on monetary policy. But investors will scrutinise statements for hints about the timing of a rate hike.

The FTSEurofirst 300 index of top European shares was down 0.6 percent at 1,632.16 points by 0815 GMT, after gaining about 1 percent in the previous session, dragged down by sharp moves on some individual companies.

"We have seen some mixed earnings reports today, however disappointing results from companies such as UPM-Kymmene have eclipsed some positive results," Christian Stocker, equity strategist at UniCredit in Munich, said.   Continuación...