STOCKS NEWS EUROPE-C&C sags on corrected revenue report

Shares in Irish drinks group C&C (GCC.I) fall nearly 10 percent after it says revenue fell 5 percent in the first four months of the current year, correcting its report last week that revenue was up 3 percent in the period.

The maker of Magners cider sent its shares higher last week when it said it had halted a long-running decline in cider sales with a 3 percent increase in the four months to June 30, but amended that figure on Monday to a 6 percent decline.

"It's not good. A lot of the buying over the last two months has been on the back of the management and their reputation but this is the first screw up by them," says one Dublin-based dealer.

"It seems to be holding at 2 euro for the moment but it may slip lower."

Reuters Messaging rm://padraic.halpin.reuters.com@reuters.net