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German shares lead Europe lower

Wednesday, August 06 08:21:02

European shares fell in early deals on Wednesday, with appetite for equities knocked back by a resurgence in geopolitical tension over Ukraine and some weaker than expected earnings reports.

The pan-European FTSEurofirst 300 was down 0.8 percent at 1,324.53 by 0704 GMT, with the German DAX, whose firms are heavily dependent on Russian energy, down 1.1 percent.

The top faller on the FTSEurofirst 300 in early deals was Hannover Re, down 3.6 percent after the German reinsurer said its net profit rose 10 percent to 211.5 million euros (283 million US dollar) in the second quarter, slightly less than expected, as premiums declined. (Reuters)

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