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European shares weighed down by weaker financial stocks, Danone
December 19, 2016 / 8:28 AM / 8 months ago

European shares weighed down by weaker financial stocks, Danone

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, December 15, 2016.Staff/Remote

MILAN (Reuters) - European shares fell slightly in early deals on Monday, weighed down by weaker financial stocks, while Danone was among the top losers after warning over its sales growth.

By 0809 GMT, the pan-European STOXX 600 index was down 0.3 percent, pulling back from 11-month highs hit last week.

Danone (DANO.PA) fell around 2 percent. The French food group said it expected its 2016 sales growth to come in slightly below its original targets due to a weaker-than-expected performance at its European dairy business.

Banks .SX7P and insurance .SXIP sector stocks were among the biggest sectoral fallers, as investors took profit following strong gains in the past two weeks due to rising bond yields.

Miners .SXPP fell 1.3 percent, tracking weaker metal prices. [MET/L]

Reporting by Danilo Masoni Editing by Jeremy Gaunt

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