European shares fall to 1-week low, hit by weak earnings
Published 24/07/2015 | 08:23
European shares edged lower on Friday, led down by satellite operator SES and chemicals firm BASF after poorly received corporate updates.
The pan-European FTSEurofirst 300 was down 0.3 percent at 1,574.44 at 0706 GMT, hitting a one-week low.
The biggest faller on the index was SES, down 8 percent after it cut its full-year revenue and profit guidance, hit by a delayed satellite launch and a decline in earnings from fixed data customers due to the strong dollar.
German firm BASF, the world's largest chemicals company by sales, fell 4.1 percent after earnings missed expectations.