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

Ryanair shareholders vote to re-elect O'Leary and Bonderman to the board

Read more
image Description

Currency moves to knock 175 mln off Diageo sales

Read more
image Description

Sterling falls after report on UK refusal over EU Irish border offer

Read more
image Description

Belgian union turns down Ryanair offer ahead of planned strike

Read more
image Description

Danske Bank CEO quits in $234 bln money laundering scandal

Read more