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European shares dip

Tuesday, August 12 08:28:25

European shares dipped early on Tuesday, halting the previous day's rebound as investors awaited Germany's ZEW survey, seeking insight on the country's outlook and the potential impact from the crisis in Ukraine.

At 0706 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,320.94 points, after rising 1.3 percent on Monday.

Tensions between Ukraine and Russia also kept investors on edge. A Russian convoy of 280 trucks carrying humanitarian aid for Ukraine set off late on Tuesday amid Western warnings against using help as a pretext for an invasion. Ukraine also reported that Russia has massed 45,000 troops on its border.

The impact from tensions between the West and Russia were visible again on the earnings front on Tuesday, with German consumer goods group Henkel warning that earnings growth would slow in the second half of the year in part due to the frictions between Russia and Ukraine.

The warning sent Henkel shares down by 2.1 percent. (Reuters)

For more visit: www.businessworld.ie