STOCKS NEWS EUROPE-C&W falls as it cuts full-yr guidance

Shares in Cable & Wireless (CW.L) shed 6.5 percent, one of the top fallers on a declining FTSE 100 .FTSE, after the telecoms group revises down its full-year earnings guidance.

For the first-half, the company delivers EBITDA ahead of forecasts, but revenue for the period fell short of expectations. The firm also reiterates its plans to de-merge its International business.

"C&W delivered a poor set of results this morning. Guidance was cut... from $935 million to $880-900 million driven by poor Caribbean trading," analysts at Morgan Stanley write in a note.

The broker says its mark-to-market analysis gives two potential outcomes for Cable & Wireless shares at 125 pence or 190 pence, and anticipates the stock to move towards the lower end of this range following the firm's results. For more double click on [ID:nL2333197]

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