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5 months ago
European shares slip for 4th straight day as Aggreko, Casino sink
March 7, 2017 / 8:30 AM / 5 months ago

European shares slip for 4th straight day as Aggreko, Casino sink

LONDON, March 7 (Reuters) - European shares extended losses on Tuesday on an earnings-heavy day as the biggest fallers Aggreko and Casino were all weighed down by results.

The pan-European STOXX 600 index was down 0.2 percent, on track to post its fourth straight session of losses.

The five biggest fallers on the STOXX 600 all reported results, with British temporary power provider Aggreko slumping almost 11 percent after posting a 3 percent decline in full-year underlying revenue amidst a gloomy outlook for 2017.

Likewise French retailer Casino Guichard also fell 5 percent after reporting full year earnings, while British equipment hire firm Ashtead dropped 4.5 percent following figures for the third quarter.

Results also drove gains, with Just Eat jumping 4.4 percent after the online food delivery company posted a 93 percent rise in earnings.

The earnings season in Europe has so far been relatively strong, with 55 percent of companies in major regional markets posting earnings beats, according to Eikon data. (Reporting by Kit Rees, Editing by Vikram Subhedar)

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