European shares fall, hit by weak earnings and banks

jueves 28 de enero de 2016 13:37 GYT

* Pan-European FTSEurofirst 300 falls 1.7 pct

* Roche lower after results miss expectations

* Euro zone banks under pressure

* Oil sector rises after Brent hits three-week high (Adds closing prices)

By Alistair Smout and Danilo Masoni

LONDON/MILAN, Jan 28 (Reuters) - European shares fell on Thursday as disappointing earnings from Roche weighed on the healthcare sector and euro zone banks also came under pressure.

The pan-European FTSEurofirst 300 index was 1.7 percent lower at 1,318.22 points, while the euro zone's blue chip Eurostoxx 50 index also fell, down 2.1 percent.

Roche dropped 3.8 percent after 2015 net profit from the Swiss drugmaker fell short of expectations and the company's forecast of an improvement this year met a sceptical market response. Its dividend also disappointed.

Analysts at Deutsche Bank said Roche had been weighed down by its diagnostics business, high tax and foreign exchange effects. However, it reiterated its buy rating on the stock, saying underlying results were of good quality.   Continuación...