Business World

Monday 5 December 2016

European shares fall to 1-week low, hit by weak earnings

Published 24/07/2015 | 08:23

An investor watches an electronic board showing stock information at a brokerage office in Beijing. Photo: Reuters
An investor watches an electronic board showing stock information at a brokerage office in Beijing. Photo: Reuters

European shares edged lower on Friday, led down by satellite operator SES and chemicals firm BASF after poorly received corporate updates.

  • Go To

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.

Reuters

Read More

Promoted articles

Editors Choice

Also in Business