European shares edge lower as effect of China rate cut fades

lunes 26 de octubre de 2015 06:03 GYT

* FTSEurofirst 300 down 0.2 pct, Euro STOXX 50 down 0.5 pct

* Philips lower as sale of Lumileds in doubt

* Peugeot down after Q3 results

* Today's European research round-up

By Danilo Masoni

MILAN, Oct 26 (Reuters) - European shares edged lower on Monday as the effect of China's rate cut faded and some relatively good earnings reports failed to provide support.

The pan-European FTSEurofirst 300 index was down 0.2 percent, after rising 1.95 percent in the previous session. The euro zone's blue-chip Euro STOXX 50 index fell by 0.25 percent.

"Asia hasn't really reacted positively to the China rate cut, and what we are seeing is a natural pull-back of markets in Europe," said CMC Markets market analyst Jasper Lawler.

"Probably, given there is a Federal Reserve meeting on Wednesday and there have been massive gains last week, I wouldn't be surprised to see the markets chop around," he said.   Continuación...