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European shares edge down as euro continues to weigh, earnings in focus
July 21, 2017 / 7:45 AM / 2 months ago

European shares edge down as euro continues to weigh, earnings in focus

LONDON, July 21 (Reuters) - European shares edged down on Friday as a fresh flow of corporate earnings failed to change the mood of the previous session, dragged down by the European Central Bank’s policy meeting, which pushed the euro close to a two-year high.

The pan-European STOXX 600 stood 0.1 percent lower, extending losses from the previous session as the euro weighed on exporters.

All major European bourses declined slightly but a number of blue chips swung into the black thanks to positive updates.

Vodafone, the world’s second largest mobile operator, reported better-than-expected revenue growth in its first quarter, and was up 2.3 percent.

But Philips Lighting, the world’s largest maker of lights, fell 7.6 percent after publishing its second-quarter results.

French car parts maker Valeo was down 3.9 percent following its first-half report.

Deal-making also triggered some large gains, with payments firm Paysafe surging 8.6 percent after receiving a bid from Blackstone and CVC Capital Partners.

The travel and leisure sector was up 0.2 percent after heavy losses in the previous sessions, due notably to falls in Germany’s Lufthansa and the British budget airline easyJet. (Writing by Julien Ponthus; Editing by Kevin Liffey)

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