Reuters
1 min read
Oct 21 (Reuters) – European shares struggled for direction on Wednesday as concerns over violent unrest in France offset support from a strong slate of corporate earnings, keeping risk appetite in check.
The pan-European STOXX 600 index was flat at 638.80 points by 0713 GMT.
Investors looked to corporate earnings for fresh direction as the outlook for the region became increasingly clouded by uncertainty.
Randstad jumped 11.6% after the recruitment firm reported organic revenue growth of 3.9% for the third quarter, beating analysts’ average forecast of 2.9%.
EssilorLuxottica rose 11.1% after the eyewear group reported a 7.2% increase in third-quarter revenue at constant exchange rates, beating analysts’ expectations.
Sentiment remained fragile, however, as investors assessed the fallout from unrest in France, which has added to concerns about the country’s weakening public finances and slowing growth.
Carrefour dropped 12.5% after the French supermarket chain cut its annual earnings forecast, saying riots, looting and curfews had raised costs and disrupted trading at its stores.
On the data front, British inflation rose more than expected last month, increasing expectations that the Bank of England could raise interest rates at its November meeting. UK’s FTSE 100 was down 0.16%.
(Reporting by Avinash P in Bengaluru; Editing by Subhranshu Sahu)
