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European shares slide on disappointing earnings

European stocks fell on Tuesday as investors sell shares of companies that missed forecasts like Pandora, William Hill and Morrisons, while anxiety prevailed before the U.S. midterm elections in Congress.

Photo: Reuters

The pan-European STOXX 600 ticked up 0.2 percent to 364.25.

Frankfurt's DAX 30 index climbed 0.2 percent to 11,515.54 and Paris CAC 40 index was flat at 5,100.53. Britain's FTSE 100 index was steady at 7,107.42.

Shares of Pandora slumped 8.3 percent after the Denmark-based jewelry producer cut its 2018 sales forecasts for the second straight quarter, saying it would launch new ad formats.

The UK's gambling firm William Hill fell 6.3 percent after it warned adjustments made for a tougher UK regulatory environment would hurt online profit this year and next.

Supermarket group Morrisons dropped 3.8 percent, set for its largest one-day slide since March, after posting quarterly sales below forecasts.

Postal and logistics company Deutsche Post added 3.6 percent after its profit loss was less sharp than analysts had predicted, and overpassed the Reuters survey consensus.


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