LONDON May 20 European shares steadied on
Tuesday following losses in the previous three sessions, with
telecom company Vodafone falling after saying its core
earnings would fall in 2015 due to the investment needed in the
At 0708 GMT, the FTSEurofirst 300 index, which last
week hit a six-year high of 1,372.81, was up 0.06 percent at
1,359.66 points. National benchmark indices in U.K., France and
Germany were trading flat to 0.1 percent higher.
Vodafone shares fell 3.4 percent, the biggest decliner on
the pan-European FTSEurofirst 300 index, after the
world's second-largest mobile operator also said it recorded
impairments of 6.6 billion pounds ($11 billion) due to fierce
competition and regulatory changes in Europe.
Marks And Spencer fell 1.3 percent after posting a
3.9 percent fall in annual profit.
According to Thomson Reuters Datastream, 82 percent
companies on the STOXX Europe 600 index have reported
first quarter results so far, of which 52 percent have missed
analysts expectations. On the revenue front, 55 percent
companies have missed forecasts.
(Reporting by Atul Prakash; Editing by Lionel Laurent)