European shares slip on cautious company updates, Zalando soars

martes 19 de julio de 2016 04:39 GYT
 

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* FTSEurofirst 300, STOXX 600 both down 0.8 pct

* AkzoNobel and Trelleborg among top decliners

* Zalando up 17 pct after raising profit forecast

By Atul Prakash

LONDON, July 19 (Reuters) - European shares slipped to a one-week low on Tuesday, with Trelleborg and AkzoNobel falling on concerns about their outlook and miners tracking weaker metals prices.

The pan-European STOXX 600 fell 0.8 percent by 0821 GMT after hitting its lowest level since July 12. The FTSEurofirst 300 was also down 0.8 percent, having closed slightly higher in the previous session.

Dutch chemicals company AkzoNobel dropped 5 percent. It beat analysts' second-quarter earnings forecast, but warned that the currency volatility and deflationary pressures that overshadowed the results were set to continue.

Swedish industrial rubber maker Trelleborg fell 5.5 percent, the top decliner in the STOXX Europe 600 index, after reporting a steep fall in like-for-like sales in the second quarter and saying it saw flat or slightly weaker demand ahead.   Continuación...