European shares fall, led by luxury sector, utilities
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Burberry drops on CEO exit, profit warning
ECB President Christine Lagarde to speak later in the day
Ocado falls after brokerage downgrade
STOXX 600 down 1%
Updated at 1600 GMT
By Shristi Achar A and Shashwat Chauhan
July 15 (Reuters) -European shares drifted lower on Monday after dour updates from luxury companies weighed on the sector, while sentiment remained fragile following the assassination attempt on U.S. presidential candidate Donald Trump over the weekend.
The continent-wide STOXX 600 .STOXX closed 1% lower, snapping a three-session winning streak.
Leading losses were shares in Burberry BRBY.L, down 16.1% after the British luxury group warned on profit, scrapped its dividend and replaced its CEO Jonathan Akeroyd after two years with former Coach boss Joshua Schulman.
"If the current levels of trading persist, the group could slip to an operating loss in the first half of the year, which will add to what has been a significantly difficult time for the company," said interactive investor's head of markets Richard Hunter.
Swatch Group UHR.S shed 9.8% as the world's biggest watchmaker reported a steep fall in first-half sales and earnings.
A gauge of the top ten European luxury stocks .STXLUXP lost close to 3%, while the personal and household goods sector .SXQP led losses amongst the major STOXX 600 sectors with a 2.1% drop
Adding to losses on the broader index, miners .SXPP eased 1.6%, tracking lower base metal prices after data showed China's economy grew much more slowly than expected in the second quarter. MET/L
European renewable energy companies like Orsted ORSTED.CO, RWE RWEG.DE, Nordex NDXG.DE, Vestas VWS.CO and Siemens Energy ENR1n.DE dropped between 3.4% and 6.4%, with traders linking the weakness to increased chances of a U.S. election win for Donald Trump.
Trump, who has stated that he would halt offshore wind development if re-elected, cements his hold on the Republican Party at its 2024 convention this week, having survived an assassination attempt and navigated numerous legal tangles on the road to the party's presidential nomination.
Focus will now be on ECB President Christine Lagarde's remarks later in the day, ahead of the central bank's policy meeting later this week.
Among other stocks, Nordea NDAFI.HE lost 3.8% after the Finnish bank reported second-quarter operating earnings just below expectations.
Britain's Ocado OCDO.L slipped 10.4% after brokerage Bernstein downgraded the online grocer and technology group to "underperform", saying the company needs to "consider its options" to go private in a grocery deal and reduce cash burn.
TomTom TOM2.AS dropped 8.4% after the digital mapping specialist suspended its revenue target for 2025 and trimmed its expectations for this year as weak demand for new cars weighed on its automotive location technology business.
Reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru; Editing by Nivedita Bhattacharjee, Sohini Goswami and Jan Harvey
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
