European equities down as Remy warning hits drinks sector

LONDON Tue Nov 26, 2013 3:12am EST

LONDON Nov 26 (Reuters) - European shares edged lower in early trading on Tuesday, retreating from a one-week high hit the previous session, with Remy Cointreau leading the food and beverages sector lower after issuing a profit warning.

Shares in the French spirits group fell more than 7 percent after warning of a double-digit decline in full-year operating profit because of a slowdown in China.

The STOXX Europe 600 food and beverages index fell 0.7 percent, the top sectoral decliner, and put pressure on the wider market.

At 0809 GMT, the pan-European FTSEurofirst 300 index was down 0.1 percent at 1,301.07 points after closing 0.4 percent higher in the previous session.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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