European shares fall back from seven-week highs as Schindler slips

martes 16 de agosto de 2016 12:22 GYT
 

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* STOXX 600 falls 0.8 pct, slips from 7-week highs

* Schindler falls after cutting outlook

* Linde surges on Praxair merger talks

By Alistair Smout

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

The STOXX Europe 600 index fell 0.8 percent, slipping back from its highest level since the "Brexit" vote in late June that saw Britain vote to leave the European Union, with the index still down 6 percent so far in 2016.

Schindler Holding declined 4.4 percent, the biggest faller on the STOXX index 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 continued to hurt the Swiss elevator manufacturer.

However, shares in Linde surged 11.1 percent after the company confirmed merger talks with U.S. industrial gas supplier Praxair Inc to create a market leader with a value of more than $60 billion.

Mining stocks also outperformed, with Antofagasta climbing 8.7 percent after the company cheered investors with a slim rise in mid-year profits.