European shares led lower by E.ON on profit warning

LONDON Tue Nov 13, 2012 1:53pm IST

LONDON Nov 13 (Reuters) - European stocks fell for a fifth straight session on Tuesday, led by German utility E.ON after it issued a profit warning.

Broader market sentiment remained subdued given wrangling on Monday between international lenders over disbursing the next tranche of Greek aid, as the country needs to refinance 5 billion euros of its debt pile by Friday.

"Has there been solution overnight? No, that's the problem," Justin Haque, a broker at Hobart Capital Markets, said. "Where's the 5 billion (euros)? They need it on the 16th."

E.ON led fallers, down nearly 10 percent, after it cut its 2013 outlook late on Monday. Euro zone banks, meanwhile, were down 0.4 percent, while the FTSEurofirst 300 index was down 0.6 percent at 1,088.36 points.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Intel's Valuation

Intel's Valuation

Intel could rise 30 percent over next two years - Barron's.  Full Article 

Plunging Oil Prices

Plunging Oil Prices

Oil price seen falling to $60 if OPEC does not cut output  Full Article 

China Economy

China Economy

Exclusive - China ready to cut rates again on fears of deflation - sources  Full Article 

Climate Change

Climate Change

Some climate change impacts unavoidable - World Bank  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage