European shares fall back from 7-week highs

martes 16 de agosto de 2016 03:20 GYT
 

LONDON Aug 16 (Reuters) - European shares pulled back from 7-week highs on Tuesday, weighed down by industrial stocks after Swiss firm Schindler lowered its outlook for 2016.

The STOXX Europe 600 fell 0.6 percent. While it closed flat on Monday, it had touched its highest level since Britain voted to leave the European Union in June.

Schindler Holding AG fell 2.6 percent after it cut the top end of its revenue growth outlook for the year as increasing uncertainty in the Chinese construction market and the recession in Brazil continues to hurt the Swiss elevator manufacturer.

Industrial firm Rotork fell 3.1 percent, the top STOXX 600 faller, after HSBC cut the valve-control systems maker to "reduce" from "hold".

The two stocks were the worst performers among top European shares in early trading.

At the other end of the STOXX 600, Switzerland's Geberit rose 4.4 percent to a record high after it beat expectations with its second quarter results and struck a confident tone for its outlook moving forward. (Reporting by Alistair Smout)