European shares fall as weak earnings hit Pearson and Marine Harvest

lunes 17 de octubre de 2016 12:03 GYT

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* STOXX 600 falls, index down around 8 pct in 2016

* Pearson drops sharply after trading update

* Italian banks outperform on merger activity

By Sudip Kar-Gupta

LONDON, Oct 17 (Reuters) - European shares fell on Monday as weak-looking business updates from firms such as media group Pearson and Norwegian seafood company Marine Harvest weighed on the market.

The pan-European STOXX 600 index fell 0.7 percent, with the index down by around 8 percent so far in 2016.

Pearson fell 8.4 percent, the worst performer on Britain's FTSE 100 and on the STOXX 600, after the company warned of tough trading conditions, even though cost cuts enabled it to maintain its full-year outlook.

"We see that there is a risk that the tight cost controls could end up exacerbating the lack of growth risk. We remain sellers of Pearson," said Gary Paulin, head of global equities at Northern Trust Capital Markets.   Continuación...