Home > EU > European shares fall

European shares fall

Written by Business World, on 19th Feb 2015. Posted in EU

article headlineEuropean shares edged off 7-year highs on Thursday, hit by a slide in oil prices and a mixed batch of corporate results, with disappointing updates from companies including utility Centrica and airline Air France-KLM. Centrica's shares fell 7.7 percent, on track for its biggest one-day drop since 2008, after slashing its dividend and reporting a fall in its full-year profit, as it was impacted by slumping energy prices. Oil prices, which had been recovering in recent weeks, also tumbled on Thursday as U.S. inventories were expected to hit record highs. The fall in crude weighed on the oil and gas sector, which was down 1.2 percent. The broader FTSEurofirst 300 index was down 0.3 percent at 1,511.18 points at 0820 GMT. While falling fuel prices have been seeing as beneficial for airlines, Air France-KLM said on Thursday they were largely offset by overcapacity on some routes and currency swings, prompting the company to ease a key debt reduction goal. Its shares fell 4.9 percent. (Reuters) For more visit: www.businessworld.ie

More articles from EU

image Description

Euro zone companies cut loan applications for first time in six years

Read more
image Description

Euro zone slowdown has bottomed but no big bounce in sight

Read more
image Description

EU says it will assess if US-China deal meets global trade rules

Read more
image Description

Brexit extension ultimately up to Britain says EU

Read more
image Description

EU's Barnier says it will take more than a year to agree full deal with UK

Read more