European shares stuck as results temper recent enthusiasm

miércoles 17 de agosto de 2016 03:25 GYT
 

LONDON Aug 17 (Reuters) - European shares little changed in early trading on Wednesday, with Austrian brickmaker Wienerberger, Danish brewer Carlsberg and UK insurer Admiral Group all sliding after publishing their results.

The pan-European STOXX 600 index was flat, with the index having stalled in recent sessions after reaching a seven-week high earlier in the week. The STOXX 600 is down 6 percent so far in 2016.

Wienerberger was among the worst-performing stocks in Europe, falling 5.8 percent after the company warned of negative currency impacts upon it from the weakening of sterling following Britain's decision to leave the European Union.

Shares in British insurer Admiral also dropped 7.3 percent, down from recent record highs, after Admiral said its solvency ratio had been hit by June's shock Brexit vote.

Carlsberg fell 4.7 percent after reporting half-year results slightly below expectations, although Carlsberg said it would maintain its 2016 outlook as its cost-cutting strategy shows progress.

On the flip side, construction company Balfour Beatty rose 6.6 percent and recouped all its post-Brexit losses after the firm resumed its dividend. (Reporting by Sudip Kar-Gupta; Editing by Vikram Subhedar)