European shares hit 2-week low as Lufthansa drops

viernes 10 de junio de 2016 04:23 GYT
 

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* FTSEurofirst 300 index down 1.1 pct

* Lufthansa falls on news that CFO is to leave

* Commodities stocks come under pressure

By Atul Prakash

LONDON, June 10 (Reuters) - European shares hit a two-week low on Friday, with Lufthansa falling after a surprise announcement that its chief financial officer will be leaving, while persistent political concerns put pressure on cyclical stocks on the last trading day of the week.

Lufthansa shares fell around 4 percent after news that CFO Simone Menne is to step down, a surprise move that came as the airline is trying to trim its cost base.

The pan-European FTSEurofirst 300 index was down 1.1 percent at 1,325.82 points, having at one point fallen to 1,324.86, its lowest mark since late April. The index is down 1 percent so far this week, it's second straight week of losses. The European STOXX 600 index was also down 1.1 percent.

Cyclicals were hit hard, with European insurance, banking, construction and travel indexes falling between 1.2 percent and 1.5 percent.   Continuación...