26 de octubre de 2015 / 10:04 / hace 2 años

European shares edge lower as effect of China rate cut fades

* FTSEurofirst 300 down 0.2 pct, Euro STOXX 50 down 0.5 pct

* Philips lower as sale of Lumileds in doubt

* Peugeot down after Q3 results

* Today’s European research round-up

By Danilo Masoni

MILAN, Oct 26 (Reuters) - European shares edged lower on Monday as the effect of China’s rate cut faded and some relatively good earnings reports failed to provide support.

The pan-European FTSEurofirst 300 index was down 0.2 percent, after rising 1.95 percent in the previous session. The euro zone’s blue-chip Euro STOXX 50 index fell by 0.25 percent.

“Asia hasn’t really reacted positively to the China rate cut, and what we are seeing is a natural pull-back of markets in Europe,” said CMC Markets market analyst Jasper Lawler.

“Probably, given there is a Federal Reserve meeting on Wednesday and there have been massive gains last week, I wouldn’t be surprised to see the markets chop around,” he said.

Peugeot fell 2.3 percent even though it reported a 3.2 percent increase in third-quarter revenue. The stock has gained 59 percent this year.

Technology group Philips also fell after reporting results that beat expectations. The shares dropped 2 percent on reports the U.S. government objected to the $3.3 billion sale of its Lumileds division to a mostly Chinese consortium.

WPP fell 1.5 percent, although the world’s largest advertising company said it would meet its full-year forecasts.

But Aberdeen Asset Management rose 3.9 percent. A Financial Times report that Aberdeen was looking for a buyer was enough to push the shares higher, although the company denied the report.

Germany’s DAX outperformed other European indexes with a gain of 0.25 percent, helped by strong gains in utility RWE. (Editing by Larry King)

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