(MENAFN– ecpulse)
European shares tumbled on midday trading on Tuesday on disappointing financial result by Vivendi and weak outlook for Fresenius.
Vivendi SA shares dropped after it posted a fourth-quarter revenue that missed analysts’ forecasts, while Fresenius Medical Care AG plunged after it unexpectedly predict another decline in profit for 2014.
Still, there are concerns from a possible slowdown in China’s growth and the political turmoil in Ukraine, which threatens with the country’s default.
A report released today from Germany confirmed that the Europe’s biggest economy grew 0.4 percent in the last quarter of 2013.
Later in the day, eyes will focus on U.S. S&P/Case-Shiller index of property prices for December and consumer confidence for February.
As of 07:07 EST, STOXX EUROPE 600 slipped 0.34% to record 337.05 points. Basic Materials led the decline with a drop of 1.12%, where the largest losses were recorded by Ashmore Group as its shares plummeted 8.15% to 312.30 GBP.
The largest gains, on the other hand, were led by Jyske Bank-Reg as its equities rose 7.78% to 330.90 DKK.
Regarding other major European indices, Germany`s DAX 30 slipped 0.45% to 9665.12 points. France’s CAC 40 index slumped 0.45% to 4399.31 points, and FTSE 100 fell 0.92% to 6802.59 points.
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