European shares pull back, weighed down by pharma, miners

jueves 25 de agosto de 2016 04:56 GYT
 

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* Pan-European STOXX 600 index down 1.1 percent

* Pharma, miners lead sectoral losers

* Sunrise, Ahold lifted by better than expected results

* German business morale deteriorates in August

By Danilo Masoni

MILAN, Aug 25 (Reuters) - European shares fell on Thursday, weighed down by losses among pharma and mining sector stocks, while firms such as Sunrise and Ahold were lifted by well received earning updates.

The pan-European STOXX 600 index fell 1.1 percent by 0828 GMT, weakened by a disappointing sentiment survey in Germany and pulling back from a one-week high hit on Wednesday.

The Ifo economic institute said German business morale deteriorated in August, suggesting company executives in Europe's largest economy have become less optimistic since Britain's vote to leave the European Union.   Continuación...