European stocks fall as Linde slumps

martes 1 de diciembre de 2015 13:33 GYT

* FTSEurofirst 300 closes down 0.4 pct

* Linde slumps after cutting medium-term targets

* British banks gain after stress-test results

* RWE surges on plans to list some units

By Sudip Kar-Gupta

LONDON, Dec 1 (Reuters) - European shares fell on Tuesday, weighed down by a slump in Linde after the world's biggest industrial gases company by sales cut its 2017 profit target.

Linde tumbled 14.3 percent, dragging down sector peer Air Liquide, and together they took the most points off the pan-European FTSEurofirst 300 index.

The index fell 0.4 percent. The euro zone's blue-chip Euro STOXX 50 retreated 0.8 percent, while Germany's DAX , which includes Linde as a constituent, dropped 1.1 percent.

Mirabaud Securities equity sales executive Rupert Baker said Linde's woes showed that the recent European stock market rally was of a "low quality", driven by prospects of more aid from the European Central Bank rather than robust earnings.   Continuación...