PARIS Aug 7 European stocks slipped in early
trade on Thursday, extending a week-long slide as tensions
between the West and Russia continued to spook investors.
Shares in Munich Re dropped 3.8 percent after
posting lower-than-expected results, while Rheinmetall
sank 4.7 percent after slashing its 2014 operating profit target
after the German government withdrew its approval for a contract
At 0710 GMT, the FTSEurofirst 300 index of top
European shares was down 0.2 percent at 1,321.40 points. The
index has dropped about 3.3 percent over the past week.
Bucking the trend, Commerzbank surged 4.1 percent
after Germany's second biggest lender posted an increase in
second-quarter earnings due in part to a fall off in bad loans.
Investors also awaited the European Central Bank policy
meeting. The ECB is set to hold fire on rates as it waits for
earlier stimulus measures to gain traction, while keeping an eye
on emerging risks from the conflict in Ukraine.
(Reporting by Blaise Robinson; Editing by Alistair Smout)