LONDON Feb 14 European shares were slightly
weaker on Tuesday, poised to snap a five-day streak of gains, as
corporate earnings season kicked into high gear across the
The pan-European STOXX 600 index was down 0.2
percent. Financials, in particular insurers, were among the
biggest drags on the index although Credit Suisse rose
2.5 percent following its earnings.
German building materials company HeidelbergCement
was among the worst performers, down 2.1 percent after it
reported a 4 percent fall in fourth-quarter revenue, missing
expectations due to bad weather in Germany and weak development
in the Indonesian market.
Frozen baked goods maker Aryzta was the top gainer
in the index, soaring 17 percent before paring back to gain 12.6
percent, after the company announced a management shake-up and
potential asset sales.
Sweden's online gaming firm Kindred Group was
up 8.3 percent after its Q4 profit topped forecasts. Investors
also cheered German industrial services group Bilfinger
which reinstated a dividend and beat expectations for
2016 net profit, in results posted after the close on Monday.
Rolls Royce, the British engine maker, was the top
European faller after it posted a record loss of 4.6 billion
pounds ($5.8 billion) as a fine to settle bribery charges and
the collapse in the pound took their toll.
Among national indexes, Italy's FTSE MIB
underperformed regional peers, down 0.5 percent, pulled lower by
the Saipem and Fiat Chrysler.
(Reporting by Helen Reid; Editing by Vikram Subhedar)