Europe: Shares dip on disappointing earnings, growth worries

[BENGALURU] European shares slipped on Thursday as weak earnings from Nokia and news of failed attempts at mergers added to a downbeat mood on renewed fears of a slowdown in global growth.

Most major country indexes in the region ended significantly lower, with London's FTSE 100 down 0.5 per cent while Frankfurt's DAX broke a nine-session winning streak with a 0.25 per cent decline.But not all earnings were bad. Stocks in Madrid and Zurich got a headwind from strong earnings at wind energy producer Iberdrola and lender UBS, respectively.

Sainsbury's slump after Britain's competition regulator blocked its proposed 7.3 billion pound takeover of Walmart-owned Asda, and homebuilder Taylor Wimpey's warning on lower full-year margins, weighed on London's FTSE.Britain's Barclays slipped after reporting a 10 per cent drop in quarterly profit, as its under-pressure investment bank struggled with tough markets.

The gains helped Swiss shares buck the gloom and close 0.4 per cent higher. Meanwhile, wind energy producer Iberdrola's 4.3 per cent jump after it raised its 2019 guidance for net profit and dividend growth, helped Spanish stocks outperform.

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