European shares retreat, Casino and TF1 underperform

viernes 18 de diciembre de 2015 08:01 GYT
 

* FTSEurofirst edges back after 1.3 pct rise on Thursday

* Broker downgrade weighs on French broadcaster TF1 (Updates prices, adds details)

By Sudip Kar-Gupta

LONDON, Dec 18 (Reuters) - European shares fell on Friday, retreating from a one-week high reached in the previous session as supermarket group Casino lost more ground following a negative research note.

French TV company TF1 was also among the worst performers, declining by 3.5 percent after brokerage Kepler Cheuvreux cut its rating on the stock to "reduce" from "buy".

The pan-European FTSEurofirst 300 index was down 0.6 percent by 1144 GMT, while the euro zone's blue-chip Euro STOXX 50 index weakened 0.9 percent.

European stocks had rallied on Thursday as investors took the U.S. Federal Reserve's decision to raise interest rates as a sign of confidence in the world's biggest economy.

Some investors were more circumspect on Friday, pointing to a slowdown in China and weak oil and metals prices as pointing to underlying weaknesses in the global economy.

"I am still quite bearish about the prospects for the first quarter of next year. The oil price problems are not going away any time soon," said Terry Torrison, managing director at Monaco-based McLaren Securities.   Continuación...