This content is not available in your region

European shares retreat as trade fears, sanctions on Russia weigh

Access to the comments Comments
European shares retreat as trade fears, sanctions on Russia weigh
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)
Text size Aa Aa

LONDON (Reuters) – 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-U.S. trade tensions and new sanctions against Russia.

At 0725 GMT, the pan-European STOXX 600 <.STOXX> was down 0.4 percent with heavy losses in Paris and London where the CAC 40 <.FCHI> and the FTSE <.FTSE> both slipped 0.6 percent.

The on-going corporate season also prompted steep moves among companies publishing second-quarter results.

German sportswear firm Adidas <ADSGn.DE> posted the best performance after it reported a better-than-expected second quarter and saw its shares jump 9 percent.

Still in Germany, TUI <TUIT.L> shares fell 8 percent after its third-quarter results disappointed as it blamed a summer heatwave keeping Europeans at home instead of travelling.

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 percent.

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.