INSUBCONTINENT EXCLUSIVE:
LONDON: European shares retreated across a number of sectors on Thursday as a new batch of corporate earnings triggered sharp price swings
but failed to dispel fears about a tense geopolitical context with the China-United States trade tensions and new sanctions against
Russia.
At 0725 GMT, the pan-European STOXX 600 was down 0.4 per cent with heavy losses in Paris and London where the CAC 40 and the FTSE
both slipped 0.6 per cent.
The on-going corporate season also prompted steep moves among companies publishing second-quarter results.
German
sportswear firm Adidas posted the best performance after it reported a better-than-expected second quarter and saw its shares jump 9 per
cent.
Still in Germany, TUI shares fell 8 per cent after its third-quarter results disappointed as it blamed a summer heatwave keeping
Europeans at home instead of traveling.
Investors also welcomed news that the chief executive of Pandora's CEO was stepping down, days
after a profit warning and announcement of job cuts.
Shares in the Danish jewellery maker surged 6.5 per cent.
