European shares end winning streak as Evonik and health stocks fall

jueves 3 de marzo de 2016 13:28 GYT

* FTSEurofirst 300 ends 5-day winning run

* Moody's cuts outlook on global pharma sector

* Evonik falls after disappointing update

* Telecom Italia shares rise (Updates with closing prices)

By Danilo Masoni

MILAN, March 3 (Reuters) - European shares fell back on Thursday, with chemicals maker Evonik and major healthcare stocks among the worst performers, halting a run of five straight days of gains.

The pan-European FTSEurofirst 300 index, which reached a one-month high earlier this week, slid 0.5 percent. The euro zone's blue-chip Euro STOXX 50 index also weakened by 0.3 percent.

Evonik slid 6.3 percent after flagging a decline in 2016 adjusted core earnings.

Major healthcare stocks such as Roche and GlaxoSmithKline also fell after credit rating agency Moody's cut its outlook on the global pharmaceuticals industry to "stable" from "positive".   Continuación...