European shares slip from 2-week high after some poor results
LONDON Feb 18 (Reuters) - European equities edged lower in early trading on Thursday after climbing to a two-week high earlier in the session, with some disappointing company results putting pressure on the market.
The pan-European FTSEurofirst 300 index was 0.1 percent lower at 1,294.42 points by 0815 GMT after initially rising to 1,298.16 points, its highest level since Feb. 5. It had ended 2.7 percent stronger on Wednesday following a rally in oil prices.
Food group Nestle dropped 4.3 percent, the top faller in the FTSEurofirst, after saying it expected softer pricing and growth in line with last year in 2016 as full-year organic growth of 4.2 percent fell short of expectations.
KBC also fell 4 percent after reporting a fourth-quarter net profit below market expectations as it took an impairment on its operations in Bulgaria and Slovakia.
However, Franco-Dutch airline Air France-KLM rose 6.5 percent after beating forecasts with a return to profit last year, helped by a drop in the fuel bill and growth in passenger traffic.
Capgemini also rose 4.6 percent after the French information technology services company reported a 20 percent rise in full-year operating profit and predicted a wider operating margin for 2016. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)
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