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European shares dip as earnings disappoint

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European shares dip as earnings disappoint
The German share price index DAX board is pictured at Frankfurt's stock exchange in Frankfurt, Germany January 7, 2016. REUTERS/Kai Pfaffenbach   -   Copyright  Kai Pfaffenbach(Reuters)
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LONDON (Reuters) – European shares dipped on Wednesday as corporate earnings failed to lift sentiment soured by trade tensions, as the United States prepares to begin collecting tariffs on another $16 billion in Chinese goods.

At 0716 GMT, the pan-European STOXX 600 <.STOXX> was down 0.3 percent with the heaviest losses in Frankfurt where the DAX <GDAXI> lost 0.4 percent.

Trading updates from Danish drugmakers Novo Nordisk <NOVOb.CO> and Lundbeck <LUN.CO> and Switzerland’s Vifor Pharma <VIFN.S> shares losses of 4.4 percent, 10 percent and 5.4 percent respectively.

Shares in French supermarket retailer Casino <CASP.PA> also fell heavily, down 9 percent after broker Bernstein cut the stock to “underperform”.

Among top performers, Nokian Tyres <NRE1V.HE> jumped 5.5 percent after beating earnings expectations and Dutch bank ABN Amro <ABNd.AS< added 4.4 percent after it reported second-quarter profits.

(Reporting by Julien Ponthus; editing by John Stonestreet)

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