Tourism-related shares drag down European stocks, Zodiac slumps

martes 24 de noviembre de 2015 06:03 GYT

* FTSEurofirst 300 index down 1.3 percent

* Tourism-related stocks fall on U.S. travel alert

* Zodiac Aerospace slumps after earnings update

By Atul Prakash

LONDON, Nov 24 (Reuters) - European shares dropped to a one-week low on Tuesday, with disappointing updates from companies such as Zodiac Aerospace and a blow to tourism stocks from a U.S. travel warning putting pressure on the market.

The pan-European FTSEurofirst 300 index was down 1.3 percent at 1,480.23 points by 0912 GMT after hitting a one-week low. It had closed 0.3 percent lower on Monday.

Germany's DAX outperformed the wider market after a survey showed German business morale unexpectedly improved in November but was still down 0.8 percent.

Zodiac shares sank more than 11 percent after the aerospace supplier posted a 44.6 percent drop in core annual earnings following production delays at its troubled aircraft seats division.

Altice dropped 7 percent as Next Alt, Patrick Drahi's personal holding, said it wanted to exercise a right to sell 7.5 percent of Altice's shares.   Continuación...