European shares edge lower

European shares edge lower
Published: 18 November 2013
London - European shares edged lower early on Monday, with investors taking some money off the table after six straight weeks of gains and looking for fresh catalysts to push the market back towards recent five-year highs.

Macroeconomic events such as the release of German sentiment data on Tuesday and the minutes on Wednesday from the Federal Reserve's October policy meeting, which could provide hints about when the Fed is likely to start trimming stimulus, could set the market's near-term direction.

The pan-European FTSEurofirst 300 index was down 0.1% at 1 296.19 points after rising 0.2% last week. The index has risen more than 14% this year.

Sonova, the world's largest hearing aid maker, surged 5% to top the FTSEurofirst 300's gainers' list after raising its full-year guidance and reporting a more than 10% jump in first-half profit.

According to Thomson Reuters StarMine data, 94% of the firms on the STOXX Europe 600 have posted results so far, of which 49% have missed earnings forecasts and 62% have missed revenue predictions.
- Reuters
Tags: Europe, Shares, FTSE,

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