15 de julio de 2015 / 9:14 / en 2 años

European shares edge lower ahead of Greek vote, SKF slumps on demand warning

* FTSEurofirst 300 down 0.1 pct, Euro STOXX 50 down 0.2 pct

* SKF falls 7 percent

* Greece to vote on bailout deal

By Liisa Tuhkanen

LONDON, July 15 (Reuters) - European shares edged lower on Wednesday on lingering uncertainty over Greece and a tumble in bearings maker SKF after it warned of weaker demand.

The pan-European FTSEurofirst 300 index was down 0.1 percent at 1,578.69 points by 0822 GMT, while the euro zone’s Euro STOXX 50 index edged 0.2 percent lower. Both indexes had gained 0.5 percent in the previous session.

Outperforming other national indexes, Italy’s FTSE MIB rose 0.4 percent and Portugal’s PSI 20 index gained 0.3 percent.

“The market is pretty flat, treading water ahead of the Greek parliamentary vote later today,” HSBC strategist Robert Parkes said.

“Over the next few weeks we expect the focus to shift back to the fundamentals... we’re going into the results season so I think the focus will start shifting onto that.”

SKF was the top faller, dropping around 7 percent on its disappointing results and outlook.[D:nL5N0ZV0YK]

Also on the downside, British luxury goods maker Burberry fell 3.4 percent after reporting a slowdown in underlying first-quarter retail revenue growth, held back by a further deterioration of the high margin Hong Kong market.

Greece is due to vote on new bailout terms later on Wednesday, with the International Monetary Fund (IMF) cautioning that the country needs far more debt relief than European governments have been willing to contemplate so far.

Prime Minister Alexis Tsipras has struggled to persuade deeply unhappy leftist lawmakers to vote for the sweeping austerity package demanded by Greece’s lenders. In an interview with state television, Tsipras said that although he did not believe in the deal, there was no alternative but to accept it to avoid economic chaos.

Speculation has grown that the fractures caused by the bailout will be too much for the government to bear and Tsipras will be forced to step down, but he appeared to rule out an early exit or forming a national unity government with opposition parties.

“Greece could still be the source of unexpected tape bombs if a swell of domestic animosity starts to build,” Deutsche Bank wrote in a note.

On the upside, Swiss pesticide maker Syngenta gained 3 percent following reports that hedge fund Paulson & Co has taken a stake in the company.

Europe bourses in 2015: link.reuters.com/pap87v

Asset performance in 2015: link.reuters.com/gap87v

Today’s European research round-up

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below