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European shares hit by Bayer, Lufthansa; FTSE shines

Published 30/07/2019, 08:29
© Reuters. European shares hit by Bayer, Lufthansa; FTSE shines
UK100
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DE40
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BP
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BAYGN
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LHAG
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STOXX
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
July 30 (Reuters) - European shares slipped on Tuesday as
grim forecasts from German giants Bayer and Lufthansa soured
sentiment, while a battered pound helped London's blue-chip
index outperform for a second day.
Bayer BAYGn.DE slipped 4.4% as it became the latest
agricultural supplies company to be affected by flooded farms in
the United States and by trade disputes, saying its full-year
earnings target has become harder to reach. Taking other airlines down with it, Germany's Lufthansa
LHAG.DE dropped 3.5% after posting a decline in second-quarter
earnings and saying that the European market was likely to
remain challenging this year. A GfK survey also showed German consumer morale worsening
for the third month in a row heading into August as trade
disputes and a global economic slowdown bit in Europe's biggest
exporter.
Combined, that pushed Germany's main stocks index .GDAXI
0.2% lower by 0713 GMT, while the pan-European stocks benchmark
.STOXX fell 0.2%.
London's blue chip FTSE 100 .FTSE index touched 11 month
highs, helped by a 3% jump in shares in energy giant BP BP.L .
GBP/ .L

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