European shares slip as profit warnings weigh on market

Rajalakshmi S Updated - January 16, 2018 at 08:40 PM.

A man riding on a bicycle looks at an electronic board showing the stock market indices of various countries outside a brokerage in Tokyo, Japan, February 4, 2016. REUTERS/Yuya Shino

European shares slipped back on Thursday, as a clutch of profit warnings from companies throughout the region took their toll on the market.

The pan-European STOXX 600 index was down by 0.1 per cent, and is down by around 6 per cent since the start of 2016.

Shares in German engineering company

GEA slumped by around 20 per cent after the firm slashed its profit guidance for this year.

Shares in British engineering company

Keller and engineering solutions company

Senior also dived lower after both companies issued profit warnings.

Shares in Swiss food group Nestle also fell 1 per cent after the firm cut its sales outlook.

However, Lufthansa jumped 8 per cent after raising its profit guidance, lifting the shares of other airlines such as Air France KLM.

Published on October 20, 2016 09:01