Stocks

European shares fall in early trade

Reuters London | Updated on January 23, 2018 Published on April 28, 2015

European shares fell on Tuesday, with Commerzbank dropping after announcing plans to raise €1.4 billion ($1.52 billion) and Swiss sanitary equipment maker Geberit slipping following poor results.

The FTSEurofirst 300 index of top European shares was down 0.5 per cent at 1,634.21 points by 0711 GMT after gaining about 1 per cent in the previous session.

Shares in Commerzbank fell 5 per cent, the top decliner in the FTSEurofirst 300 index, as Germany’s second-largest bank had on Monday launched a share sale to raise capital from institutional investors to help to bolster its capital strength.

Geberit shares fell 4.4 per cent after the company reported a 15 percent fall in first-quarter net profit due to costs relating to its acquisition last year of Nordics ceramic maker Sanitec and a surge in the Swiss franc.

Published on April 28, 2015
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