Oct 25 - European shares fell on Wednesday, weighed by declines in the luxury sector after downbeat sales from Kering, while investors also digested a slew of other mixed earnings reports amid worries about slowing growth in the euro zone.Shares of Kering fell 3.5% to their lowest since early 2020 as the French luxury group posted a bigger-than-expected drop in third-quarter sales on slowing demand for high-end clothes and accessories.
Europe has seen a mixed start to the earnings season, with 54% of the 50 STOXX 600 companies that have reported profits so far beating estimates, according to LSEG data. Analysts expect third-quarter earnings to drop 9.7% from a year earlier. The Frankfurt-listed shares of Alphabet fell 6.4% after the Google owner's cloud revenue missed estimates, while Microsoft added 3.4% following a beat in quarterly sales estimates.
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