European shares end lower on weaker miners and drugmakers

jueves 25 de agosto de 2016 12:12 GYT

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* Pan-European STOXX 600 ends 0.8 pct lower

* Pharma, miners among top losers

* Sunrise lifted by strong results

By Danilo Masoni and Atul Prakash

MILAN, Aug 25 (Reuters) - European equities fell on Thursday, dragged down by weaker miners and drugmakers, with investors cutting their exposure to riskier assets ahead of a key speech by Federal Reserve Chair Janet Yellen on Friday.

Although the Fed is seen maintaining rates at its September meeting, expectations have risen that Yellen might indicate a clearer timeframe for the next U.S. rate hike after this week's strong housing data and hawkish comments by other Fed officials.

The pan-European STOXX 600 index closed 0.8 percent lower, also 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...