European shares
inched lower on Thursday though a series of earnings updates grabbed the
focus with Reckitt Benckiser and Sodexo leading fallers after both
companies cut their guidance.
The
pan-European STOXX 600 and euro zone blue chips were down 0.1 percent
by 0820 GMT, while UK's FTSE 100 inched up 0.1 percent.
Reckitt fell 2.1 percent, making it the biggest weight on the STOXX.
The UK consumer goods group cut its growth forecast after a global cyber attack last month disrupted business in multiple markets.
Sodexo, the world's second-biggest catering services firm after Compass Group, also cut its sales growth goal after weaker-than-expected third quarter results, sending its stock down 5.2 percent to a 14-week low.
Associated British Foods rose 4.4 percent, topping gainers in Europe, after the company said its full-year outlook had marginally improved after a better-than-expected performance from its Primark clothing chain.
The broader banking sector, recently underpinned by talk of tightening monetary policy conditions, was flat ahead of the release later in the day of the minutes of the European Central Bank's last policy meeting.
The minutes could provide more clues about future plans of euro zone rate-setters, possibly affecting rate-sensitive sectors like banks and utilities, which also were flat.
Meanwhile Italian banks rose 0.7 percent, continuing to outperform after a series of deals in the last two weeks which have restored confidence in the sector's prospects.
Italy's economy minister, Pier Carlo Padoan, said there were no more "brushfires" threatening other banks after the government wound down two Veneto-based last month in a deal that could cost the state up to 17 billion euros. .
Elsewhere price action was drive by broker moves with media companies Mediaset Espana and Prosiebensa t down 2.9 percent and X percent respectively after JPMorgan downgraded both companies.
Reckitt fell 2.1 percent, making it the biggest weight on the STOXX.
The UK consumer goods group cut its growth forecast after a global cyber attack last month disrupted business in multiple markets.
Sodexo, the world's second-biggest catering services firm after Compass Group, also cut its sales growth goal after weaker-than-expected third quarter results, sending its stock down 5.2 percent to a 14-week low.
Associated British Foods rose 4.4 percent, topping gainers in Europe, after the company said its full-year outlook had marginally improved after a better-than-expected performance from its Primark clothing chain.
The broader banking sector, recently underpinned by talk of tightening monetary policy conditions, was flat ahead of the release later in the day of the minutes of the European Central Bank's last policy meeting.
The minutes could provide more clues about future plans of euro zone rate-setters, possibly affecting rate-sensitive sectors like banks and utilities, which also were flat.
Meanwhile Italian banks rose 0.7 percent, continuing to outperform after a series of deals in the last two weeks which have restored confidence in the sector's prospects.
Italy's economy minister, Pier Carlo Padoan, said there were no more "brushfires" threatening other banks after the government wound down two Veneto-based last month in a deal that could cost the state up to 17 billion euros. .
Elsewhere price action was drive by broker moves with media companies Mediaset Espana and Prosiebensa t down 2.9 percent and X percent respectively after JPMorgan downgraded both companies.
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