* FTSEurofirst 300 fell 0.2 pct at 1182.32 2.04
* Danske hit by concerns over capital raise
* Aggreko knocked by worries over Asia, EMEA growth
* Whitbread rises as investors toast Costa performance
By David Brett
LONDON, June 18 European shares edged lower
early on Tuesday, led by a hit for Denmark's Danske Bank on
capital concerns as investors awaited the outcome of a two-day
meeting of the U.S. Federal Reserve.
Danske Banke fell 6.7 percent after Danish
regulators ordered the country's biggest financial institution
to set aside more capital.
By 0732 GMT, the FTSEurofirst 300 was down 2.04
points, or 0.2 percent at 1,182.32, tracking weakness overnight
in Asia and an off-high finish in the United States, which
traders attributed to an article in the Financial Times that
fanned concerns the Fed could signal it will scale back its
"There might be some volatility now ahead of the Fed
decision although we expect volumes to be light and the rumour
mill to be in overdrive as to what might be said," Mark Ward
head of execution trading at Sanlam Securities, said.
"The most likely outcome of the FOMC meet will be Bernanke
suggesting the Fed will start to taper (off) its monetary
stimulus programme if the economic recovery picks up, although
carefully worded so as to not wobble the markets," he said.
Company results were also in focus with Aggreko
down 1.6 percent having failed to assuage concerns over waning
profitability in its latest update following two recent profit
The temporary power provider said it would likely meet
expectations in the first half of the year, but traders remained
worried by underlying slowing growth in Asia and emerging
Britain's Whitbread topped the risers list, up 4.1
percent and hitting a fresh all time high after posting a 3.1
percent rise in first quarter sales boosted by demand for hot
drinks at its Costa Coffee chain.
"Whitbread remains firmly on track to achieve (recently
revised upward 5 year plan targets). Whitbread trades on 18.4
times 2014 forecasts, with mid single digit earnings growth,
however we see scope for our earnings forecasts to rise," Shore
Capital said in a note.
Kabel Deutschland, Germany's biggest cable
operator, rose 4.5 percent after confirming U.S. media group
Liberty Global Plc joined in a bidding war with
UK-listed mobile communications firm Vodafone for the company.
A British newspaper reported that Liberty had put forward a
7.5-billion-euro bid for Kabel.