European shares dented by weak earnings outlooks, but Zalando soars

martes 19 de julio de 2016 12:55 GYT
 

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* STOXX 600 and FTSEurofirst 300 close down 0.4 pct

* Ericsson and AkzoNobel fall after earnings updates

* But Zalando surges after results

* IMF cuts global growth economic forecasts

By Sudip Kar-Gupta

LONDON, July 19 (Reuters) - European shares touched a one-week low on Tuesday as weak earnings updates from the likes of Ericsson and AkzoNobel weighed on markets, although online fashion retailer Zalando < surged.

The pan-European STOXX 600 and the similar FTSEurofirst 300 index both closed down 0.4 percent, having hit one-week lows earlier in the session. The STOXX 600 is down around 8 percent so far in 2016.

Mobile telecoms gear maker Ericsson fell 5.6 percent, the worst performer on the STOXX 600, after it forecast a third consecutive year of comparable sales declines.   Continuación...